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CurrencyShares Japanese Yen Trust ETF (FXY)

- NYSEARCA
  • Fri, Apr. 17, 7:57 AM
    • The BOJ held policy steady this month, apparently taking comfort in core inflation staying positive, but Credit Suisse says the rate will turn negative by November, prompting a fresh bout of QE.
    • The weaker yen has helped boost inflation of late, says the team, but that effect is wearing off and further weakening is unlikely, especially now that Fed rate hike plans have been pushed off by at least a few months.
    • "As such, we see a high likelihood of the BoJ deploying additional easing measures later this year, by which time the central bank will probably be forced to acknowledge that corporate price-setting behavior is being adversely impacted by the threat of the ex-energy core CPI inflation rate dropping into negative territory.”
    • Source: Barron's
    • ETFs: DXJ, EWJ, FXY, YCS, DBJP, NKY, JYN, EZJ, JPNL, EWV, YCL, HEWJ, ITF, JPP, FJP
    | 3 Comments
  • Tue, Apr. 14, 8:22 AM
    • "120 yen per dollar is acceptable," says Koichi Hamada, a key adviser to PM Shinzo Abe, clarifying remarks he made yesterday which suggested he thought the yen was too weak.
    • He also says  he wouldn't oppose further monetary ease by the BOJ later this month as inflation is far from a worry.
    • Dollar/yen pops to ¥119.89 from ¥119.60 following his comments.
    • ETFs: FXY, YCS, JYN, YCL
    | Comment!
  • Wed, Apr. 8, 4:58 AM
    • The Bank of Japan's board has voted 8-1 to keep its asset-purchase target at ¥80T a year, rejecting a call by stimulus critic Takahide Kiuchi to slash the goal to ¥45T. (PR)
    • As in the U.S., all that money printing has caused an inflation in assets, if not in consumer goods and services, and the Nikkei rose 0.8% to 19,789.81, the highest close since April 2000. The USD-JPY is -0.4% at ¥119.87.
    • Meanwhile, Japan's current-account surplus surged to ¥1.44T ($12B) in February from ¥61.4B in January and easily beat consensus of ¥1.15T.
    • The latest figure is the highest in almost 3 1/2 years and was boosted by increased income from overseas investments and the trade deficit narrowing to ¥143.1B from ¥864.2B.
    • A main reason for the trend is a drop in oil prices, which has made imports cheaper. The weaker yen is also helping.
    • The surplus, the eighth in a row, indicates that Japan has again become a large external creditor following a series of current-account deficits at the end of 2013. (PR)
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, DFJ, JGBD, JYN, NKY, DBJP, EZJ, EWV, JPNL, YCL, DXJS, SCJ, JSC, ITF, JGBL, JPP, JGBT, HEWJ, JGBB, FJP, QJPN, JPMV, DXJT, DXJH, DXJR, DXJF, DXJC
    | 2 Comments
  • Thu, Mar. 19, 8:04 AM
    • The PowerShares U.S. Dollar Bull ETF (NYSEARCA:UUP) is up 0.9% premarket after diving 2% yesterday following the Fed's surprisingly dovish outlook.
    • The euro is particularly weak, down 1.5% to $1.07 after climbing over $1.10 in very fast trade after the close yesterday. The pound (NYSEARCA:FXB) is down 0.6%, the yen (NYSEARCA:FXY0.5%, loonie (NYSEARCA:FXC1%, swissie (NYSEARCA:FXF1.3%, and aussie (NYSEARCA:FXA1.4%.
    • ETFs: UUP, UDN, UUPT, FORX, UDNT, USDU
    • Previously: Flash crash in the dollar (March 18)
    • Previously: Dollar off sharply as Fed slows rate hike estimates (March 18)
    | 2 Comments
  • Wed, Mar. 18, 2:15 PM
    | 1 Comment
  • Thu, Mar. 12, 8:56 PM
    | Comment!
  • Fri, Mar. 6, 9:07 AM
    | 1 Comment
  • Thu, Mar. 5, 5:05 AM
    • Bank of Japan board member Takahide Kiuchi called the bank's inflation projections overly optimistic and questioned the sustainability of its aggressive stimulus Thursday, in a direct challenge to Gov. Haruhiko Kuroda.
    • The BOJ faces the risk of being perceived as directly financing the government deficit, Kiuchi said. The bank's stimulus measures absorb almost 90% of newly issued government debt.
    • Kiuchi also rejected Kuroda's forecast that Japan's CPI will reach 2% by the middle of 2016.
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, DFJ, JGBD, JYN, NKY, DBJP, EZJ, EWV, JPNL, YCL, DXJS, SCJ, JSC, ITF, JGBL, JPP, JGBT, HEWJ, JGBB, FJP, QJPN, JPMV, DXJT, DXJH, DXJR, DXJF, DXJC
    | Comment!
  • Thu, Feb. 26, 9:00 AM
    • Core CPI gained 0.2% in January, double expectations, even as the oil-influenced headline number tumbled 0.7%.
    • The only thing barely holding back Fed rate increases at this point is too-low inflation, and if core CPI is going to start printing 0.2% on a monthly basis, markets probably ought to start pricing in at least a small series of rate boosts.
    • The dollar bull ETF (NYSEARCA:UUP) is up 0.6% premarket, with the greenback nicely in the green against the euro (NYSEARCA:FXE), yen (NYSEARCA:FXY), loonie (NYSEARCA:FXC), pound (NYSEARCA:FXB), swissie (NYSEARCA:FXF), and aussie (NYSEARCA:FXA).
    • ETFs: UUP, UDN, UUPT, FORX, UDNT, USDU
    • There were also a couple of not-so-hot economic numbers earlier: Durable goods ex-transport fell short of expectations, and jobless claims jumped well past consensus.
    | Comment!
  • Thu, Feb. 5, 3:36 PM
    • "The government’s choice for the BoJ board sends a clear signal in favor of on-going monetary policy accommodation," says HSBC's Izumi Devalier,  now expecting additional monetary stimulus as early as April.
    • Prime Minister Shinzo Abe last night nominated Waseda University professor Yutaka Harada to the BOJ's nine-member policy board. He's replacing Ryuzo Miyao, who's not exactly a hawk either.
    • More from Devalier: "Mr. Harada’s addition will undoubtedly tilt the board to an even more dovish direction. A monetarist and staunch proponent of PM Abe’s reflationary policies, Mr. Harada has long argued that insufficient monetary easing was a root cause of Japan’s long stagnation and deflation." Harada's preference for more easing, says Devalier, is JGB purchases instead of ETF buys.
    • The yen (NYSEARCA:FXY) is lower by 0.3% today, with dollar/yen at ¥117.56.
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, JYN, NKY, DBJP, EZJ, EWV, JPNL, YCL, ITF, JGBL, JPP, JGBT, HEWJ, JGBB, FJP, DXJF
    | 3 Comments
  • Dec. 5, 2014, 8:46 AM
    | 7 Comments
  • Nov. 21, 2014, 4:21 PM
    | Comment!
  • Nov. 21, 2014, 11:40 AM
    • A popular short during 2013, the yen trundled along for much of 2014, with the dollar buying between ¥102 and ¥105 until about a month ago. Since, the yen has plunged, with the dollar earlier today buying as much as ¥119. Helping was the BOJ's surprise announcement of additional asset purchase and Japan's slipping back into recession.
    • "Too fast," says Japanese Finance Minister Taro Aso. "There is no doubt about that."
    • Even Abenomics' (of which currency devaluation is a major plank) biggest supporters don't want the yen to weaken much beyond ¥120. "¥125 would make me a bit nervous," says an Abe advisor.
    • The yen did strengthen a bit on the finance minister comments, now up 0.5%, with the dollar worth ¥117.61.
    • FXY +0.35%
    • ETFs: FXY, YCS, JYN, YCL
    | 3 Comments
  • Nov. 17, 2014, 3:58 PM
    • "The argument that tax hikes cause recessions is becoming more difficult to refute," says Wells Fargo, dissecting Japan's slip back into an official recession in Q3 (following a big boost in the sales tax on April 1). "In our view, next year's tax hike is at least postponed and Abenomics in general is losing traction."
    • The bank does note it was an inventory swing which was responsible for much of the decline in Q3 GDP as there were gains in consumer spending and net exports, but business fixed investment also fell during the quarter.
    • Previously (along with the IMF and OECD) a supporter of another sales tax hike in October 2015, the team at Wells says it could be politically untenable at this point.
    • ETFs: DXJ, EWJ, FXY, YCS, JYN, NKY, DBJP, EZJ, EWV, YCL, JPNL, ITF, JPP, JPNS, HEWJ, FJP
    • Previously: Surprise contraction in Japanese GDP
    | Comment!
  • Nov. 16, 2014, 8:06 PM
    • Real GDP shrank 1.6% on an annualized basis in Q3, confounding forecasts for a 2.25% expansion - in fact, none of the economists surveyed had expected a negative print. It's the 2nd consecutive quarter of contraction - GDP fell 7.3% in Q2 following a 300 basis points boost in the sales tax which took effect on April 1.
    • The Nikkei has knee-jerked lower by 1.4% in response to the slow number, but there could be a positive spin to the news - Prime Minister Abe has said the Q3 GDP print would play a large role in whether he decides to postpone the next boost in the sales tax currently scheduled for October 2015.
    • The yen is marginally stronger vs. the dollar, which currently is buying ¥116.22.
    • ETFs: DXJ, EWJ, FXY, YCS, JYN, NKY, DBJP, EZJ, EWV, YCL, JPNL, ITF, JPP, JPNS, HEWJ, FJP
    | 25 Comments
  • Nov. 5, 2014, 7:38 AM
    • The greenback is well-bid following the GOP victory overnight, with the dollar index higher by 0.6% (a fairly sizable move for this product).
    • UUP +0.65% premarket.
    • Dollar ETFs: UUP, UDN, FORX, UUPT, UDNT, USDU
    • The euro (NYSEARCA:FXE) is lower by 0.5% vs. the dollar; the pound (NYSEARCA:FXBby 0.6%; the yen (NYSEARCA:FXYby 1%; the Swiss franc (NYSEARCA:FXFby 0.5%, the aussie by 1.4%, and the loonie by 0.3%.
    • On the flip side, precious metals continue to tumble, with gold (-2.3%) and silver (-4.7%) at more than four-year lows.
    | 1 Comment
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FXY Description
CurrencyShares Japanese Yen Trust is designed to track the price of the Japanese Yen net of Trust expenses, which are expected to be paid from interest earned on the deposited Japanese Yen.
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Country: Japan
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