JAPAN DATA: The Cabinet Office says it will release..
JAPAN DATA: The Cabinet Office says it will release the
government’s monthly economic report for May on Tuesday, May 24, at a
time to be set later. The government revised down its overall economic
assessment in April, for the first time since October 2010, saying,
“Although the economy was picking up, it shows weakness recently, due to
impact of the Great East Japan Earthquake.” Some data have shown
weakness of the economy. Industrial production plunged a seasonally
adjusted 15.3% m/m in March, posting the largest drop on record.
The Euro still looks heavy” said Koji Fukaya, director of global foreign exchange at Credit Suisse Securities in Tokyo. “If we see a further drop in commodities, the euro could make a try to $1.40", adding that "some investors seem interested in buying the Euro at levels around $1.40” the analyst said. Additionally, the 1.39-1.40 region is regarded as a significant area for the euro, since there has been talks of sizeable stop losses offers around the level, plus a series of support levels are clustered there, including the 100DMA.
JAPAN DATA: The Cabinet Office says it will release the
government’s monthly economic report for May on Tuesday, May 24, at a
time to be set later. The government revised down its overall economic
assessment in April, for the first time since October 2010, saying,
“Although the economy was picking up, it shows weakness recently, due to
impact of the Great East Japan Earthquake.” Some data have shown
weakness of the economy. Industrial production plunged a seasonally
adjusted 15.3% m/m in March, posting the largest drop on record.
The Euro still looks heavy” said Koji Fukaya, director of global foreign exchange at Credit Suisse Securities in Tokyo. “If we see a further drop in commodities, the euro could make a try to $1.40", adding that "some investors seem interested in buying the Euro at levels around $1.40” the analyst said. Additionally, the 1.39-1.40 region is regarded as a significant area for the euro, since there has been talks of sizeable stop losses offers around the level, plus a series of support levels are clustered there, including the 100DMA.
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