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CurrencyShares Japanese Yen Trust ETF (FXY)

- NYSEARCA
  • 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
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  • 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
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  • 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
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  • 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
  • Nov. 5, 2014, 4:45 AM
    • Bank of Japan Governor Haruhiko Kuroda has affirmed his commitment toward achieving 2% inflation at the earliest date possible, saying there is no limit to the measures the central bank will take.
    • "There are no limits to our policy tools...in order to completely overcome the chronic disease of deflation, you need to take all your medicine. Half-baked medical treatment will only worsen the symptoms," says Kuroda.
    • The BOJ shocked global financial markets last week by expanding its massive stimulus spending program, with the aim of hitting the 2% goal and recharging the country's tottering economy.
    • The yen weakened to 114.44 per dollar, the lowest since December 2007, after gaining 0.4% yesterday.
    • ETFs: FXY, YCS, JYN, YCL
    | 2 Comments
  • Oct. 29, 2014, 2:30 PM
    • While the statement - an end to QE, retention of the "considerable time" language, chatter about improving employment -wasn't much a surprise, the fact that the dissent came from the dove camp suggests perhaps there was a bit more hawkishness in the conference room than past meetings.
    • In any case, while stocks and longer-dated rates have a relatively subdued reaction, money is moving into the greenback (UUP +0.7%), with the euro (FXE -0.7%), yen (FXY -0.7%), pound (FXB -0.2%), Swiss franc (FXF -0.6%), loonie (FXC -0.4%), and aussie (FXA -0.6%) all considerably lower than they were 30 minutes ago.
    • ETFs: FXE, UUP, FXY, EUO, FXA, YCS, UDN, ERO, JYN, DRR, CROC, FORX, UUPT, UDNT, YCL, EUFX, ULE, USDU, URR, GDAY
    • Previously: QE ends, "considerable time" language stays for now
    | Comment!
  • Oct. 21, 2014, 6:08 AM
    • Key quotes from CAO report:
    • "Industrial production is decreasing recently."
    • "Private consumption appears to be pausing recently."
    • "Business investment shows some weak movements recently, while it is on the increase."
    • "Although weakness remains for the time being, the economy is expected to recover, supported by the effects of the policies, while employment and income situation improve. However, attention should be given to the downside risks of the Japanese economy such as lengthening of the reaction after a last-minute rise in demand and slowing down of overseas economies."
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, DFJ, JGBD, JYN, NKY, DBJP, EZJ, EWV, YCL, DXJS, SCJ, JPNL, JSC, ITF, JGBL, JPP, JGBT, JPNS, HEWJ, JGBB, FJP, QJPN, JPMV, DXJT, DXJR, DXJH, DXJF, DXJC
    | 1 Comment
  • Oct. 17, 2014, 3:41 AM
    • Asian stocks trade mixed as a 14-year low in U.S. weekly jobless claims and talk of the Fed possibly extending QE helps provide balance to concerns about a possible recession and deflation in Europe, the Ebola scare, China's slowdown, and Japan's floundering economy.
    • The Nikkei closes -1.4% while Japanese bond prices rise, with the two-year yield dropping 3.6 bps to a record low of 0.005%.
    • "We need to see a period of better data from the U.S., and especially Europe, for markets to really calm and volatility to cool," says market strategist Chris Weston.
    • Nymex crude is +0.2% to $82.86 and Brent is +0.1% to $85.89, but the latter is still headed for a fourth consecutive weekly loss.
    • Hong Kong +0.4%, China -0.65%, India +0.25%.
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, DFJ, JGBD, JYN, NKY, DBJP, EZJ, EWV, YCL, DXJS, SCJ, JPNL, JSC, ITF, JGBL, JPP, JGBT, JPNS, HEWJ, JGBB, FJP, QJPN, JPMV, DXJT, DXJR, DXJH, DXJF, DXJC
    | 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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