{"id":21226,"date":"2011-05-19T08:47:49","date_gmt":"2011-05-19T12:47:49","guid":{"rendered":"http:\/\/www.forexyard.com\/blog\/en\/?p=14381"},"modified":"2011-05-19T08:47:49","modified_gmt":"2011-05-19T12:47:49","slug":"japanese-q2-gdp-shows-contraction-of-0-9","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/05\/19\/japanese-q2-gdp-shows-contraction-of-0-9\/","title":{"rendered":"Japanese Q2 GDP Shows Contraction of 0.9%"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/profile-pics\/8.jpg\" width=\"120\"  alt=\"printprofile\" \/><\/p>\n<p>The Japanese yen (JPY) began trading in a bearish direction against most of its currency rivals yesterday after the Bank of Japan (BOJ) released data which showed the Japanese economy contracting by 0.9% so far this quarter.<\/p>\n<p><span id=\"more-14381\"><\/span>After a week of ups and downs, the Japanese yen now appears to be in a weaker position and is taking a beating by traders in today\u2019s early hours. Adding to this bearish sentiment is also the revised industrial production figure which was released this morning slightly lower than expectations.<\/p>\n<p>The dominant stance of risk aversion overarching this week and last had many traders moving towards the yen until yesterday. The dominant stance now appears to be a flight to other safe-havens like the Swiss franc (CHF) and, in many instances, the Scandinavian kroner (i.e. SEK, NOK, DKK).<\/p>\n<p>As of this morning, the <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/05\/19\/dollar-is-range-bound-prior-to-us-economic-data-releases\/\">USD\/JPY<\/a> has moved up over 80 pips from 80.00 to 80.88. Japan\u2019s tertiary activity was published yesterday morning and also revealed a severe downturn of approximately 6.0%.<\/p>\n<p>This morning\u2019s GDP figure was another bearish marker on the currency and so far traders are moving away from their JPY investments as a result. Should tomorrow\u2019s monetary policy statement give further dovish statements, the yen may find itself losing value against its primary currency rivals prior to this week\u2019s close.<\/p>\n<p>Read more forex trading news on our <a href=\"http:\/\/www.forexyard.com\/blog\/en\/\">forex blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> The Japanese yen (JPY) began trading in a bearish direction against most of its currency rivals yesterday after the Bank of Japan (BOJ) released data which showed the Japanese economy contracting by 0.9% so far this quarter.<br \/>\nAfter a week of ups and do&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-21226","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=21226"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21226\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=21226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=21226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=21226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}