Dollar/Yen hovers around 135.24 .
A good end to the trading week, USD/JPY is up to 135.24, after closing yesterday at zero. Overall, a 0% move or 13,523 pips this week. (Start trading Dollar/Yen at FXTM today).
This move comes while some more positive signs for Dollar/Yen are out as ISM Manufacturing PMI (Jun) in United States fell short of the 54.9 projection with 53 and continued its downward trajectory from previous figure of 56.1.
On the flip side, Japan Tankan Large Manufacturers Index (Q2) published yesterday at 11:50 PM came out at nine, falling short of the 13 projections and continuing its decline from the previous 14 figure. Japan Tankan Large Non-Manufacturers Index (Q2) released earlier shows an improvement to 13 from the preceding data of nine, but falls short of the projected 14.
Meanwhile, Japan CFTC JPY speculative net positions released today at 7:30 PM with a figure of -52,600, which is better than its previous number of -58,500. Japan Tankan All Big Industry CAPEX (Q2) beats expectations of 8.9 with new data release of 18.6. This is also a step forward from the previous data of 2.2.
Outlook for rest of the week: The market is looking forward to the release of new data: Japan Household Spending (YoY) (May) is projected to outperform its last figure with -0.8. It previously stood at -1.7, and data will be released Thursday. Japan Household Spending (MoM) (May) is projected to rise to 1.3, beating the previous one figure. Official data is expected Thursday. Japan Current Account n.s.a. (May) is projected to rise to 511 billion, beating the previous 501 billion figure. Official data is expected Thursday.
