Seeking Alpha
 

CurrencyShares Japanese Yen Trust ETF (FXY)

- NYSEARCA
  • Jun. 9, 2014, 3:42 AM
    • Asian stocks hit their highest levels in nearly three years today, after the Dow and S&P 500 ended at new records on Friday. The Nikkei stock average is up by over 0.3%, and MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS is also up about 0.3%, after reaching its highest levels since July 2011.
    • Other data today has shown Japan's economy growing 1.6% in January-March from the previous quarter, which revised preliminary data showing 1.5% growth.
    • The yuan rose after the People's Bank of China unexpectedly fixed its daily midpoint higher against the dollar for the second straight session, leading to an additional rise in other Asian currencies.
    • ETFs: DXJ, EWJ, FXY, YCS, DFJ, JYN, NKY, DBJP, EZJ, EWV, YCL, SCJ, JPNL, DXJS, JSC, ITF, JPP, JPNS, HEWJ, FJP, DXJR, DXJT, DXJH, DXJC, DXJF
    | 1 Comment
  • Jun. 8, 2014, 8:40 PM
    • Saying capital spending rose 34.2% vs. a first guess of 21%, the Japanese government ups Q1 GDP growth to 6.7% from the initial 5.9% estimate. Economists had forecast a downward revision to just 5.5%.
    • Also boosting the economy in Q1, of course, was a surge in consumption ahead of an increase in the sales tax in April, and economists are forecasting GDP to contract about 4% in Q2.
    • The Nikkei is higher by 0.8% in early Monday morning action, and the yen is steady at ¥102.57.
    • ETFs: DXJ, EWJ, FXY, YCS, DFJ, JYN, NKY, DBJP, EZJ, EWV, YCL, SCJ, JPNL, DXJS, JSC, ITF, JPP, JPNS, HEWJ, FJP, DXJR, DXJT, DXJH, DXJC, DXJF
    | 9 Comments
  • Jun. 2, 2014, 7:56 AM
    • The Government Pension Investment Fund should announce a reshuffling of assets in which, predicts Nomura, it would sell as much as $200B in domestic bonds to buy overseas assets. The team at Nomura sees the move as weakening the yen about about 10%.
    • If done at the right time, says Mitsubishi UFJ's Daisaku Ueno, dollar-yen could top ¥110 this year (¥102 at the moment).
    • A Bloomberg survey sees the fund cutting its local bond holding from 60% to 40%, and boosting its targets for foreign stocks to 17% and 14% (from 12% and 11%, respectively).
    • The Nikkei closed 2.1% higher overnight.
    • ETFs: DXJ, EWJ, FXY, YCS, DFJ, JYN, NKY, DBJP, EZJ, EWV, YCL, SCJ, JPNL, DXJS, JSC, ITF, JPP, JPNS, HEWJ, FJP, DXJT, DXJH, DXJC, DXJR, DXJF
    | 1 Comment
  • May 23, 2014, 1:08 PM
    • Describing the U.S. economy as "recovering very strongly" and stronger than Japan, BOJ Governor Kuroda says, "In this kind of situation, I don't think it's reasonable to expect the yen to appreciate against the dollar."
    • He also sees the yen as "still quite strong" vs. the euro compared with where the pair stood ahead of the financial crisis (the current ¥140 vs. ¥169 before Lehman).
    • Kurdoa's talk-down of the yen comes a couple of days after his optimistic comments on the Japanese economy and a signal he was not planning additional monetary ease sent the currency higher.
    • Dollar/yen is ahead 0.25% on the session at ¥101.98.
    • ETFs: FXY, YCS, JYN, YCL
    | 1 Comment
  • May 22, 2014, 8:28 AM
    | Comment!
  • May 21, 2014, 2:31 AM
    • As expected, the Bank of Japan has left its key interest rate at 0.1% and maintained its program of expanding the monetary base by ¥60-70T ($580-680B) a year.
    • Meanwhile, Japan's trade deficit narrowed to ¥844.62B in April from ¥1.63T in March.
    • Export growth strengthened to 5.1% from 1.8% and topped consensus of 4.8%.
    • Imports slowed to +3.4% from +18.1% and exceeded forecasts of +0.8%. The high increase in March was due to a last-minute shopping spree before the sales tax increased on April 1.
    • Exports have disappointed over the past year or so despite the weak yen, prompting fears for Japan's economic recovery and sparking increased speculation that the BOJ might add to its massive asset-buying policy.
    • "We have to wait for exports to recover strongly before we will see a real drop in the trade deficit and that situation is still way out of sight," says economist Yoshiki Shinke.
    • The USD-JPY is -0.15% at ¥101.18, while the Nikkei is -0.2%.
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DFJ, JYN, NKY, DBJP, EZJ, EWV, YCL, SCJ, DXJS, JPNL, JSC, ITF, JGBL, JPP, JGBT, JPNS, HEWJ, JGBB, FJP, DXJH, DXJT, DXJC, DXJR, DXJF
    | Comment!
  • May 19, 2014, 3:50 AM
    • Japanese machinery orders, a leading indicator of capital expenditure, have grown at the fastest rate since 1996, surging 19.1% on month in March after slumping 4.6% in February and slaying expectations for a rise of 6%.
    • On year, bookings +16.1% vs +10.8% and consensus of +4.2%.
    • While the jump in orders came before a hike in sales tax on April 1, companies expect bookings to grow 0.4% on quarter in Q2 for the fifth consecutive gain.
    • "The recovery in business investment remains on track," says economist Marcel Thieliant. "The rising level of capacity usage also suggests that companies will continue to invest in machinery and equipment, despite the likely plunge in aggregate demand this quarter after the consumption tax hike."
    • Despite the blow-out data, the Nikkei ends -0.6%, while the USD-JPY is -0.2% at ¥101.36. (PR)
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DFJ, JYN, NKY, DBJP, EZJ, EWV, YCL, SCJ, DXJS, JPNL, JSC, ITF, JGBL, JPP, JGBT, JPNS, HEWJ, JGBB, FJP, DXJH, DXJT, DXJC, DXJR, DXJF
    | 1 Comment
  • May 15, 2014, 3:12 AM
    • Japanese GDP growth surged to its fastest level in over two years in Q1, accelerating to an annualized 5.9% from 0.3% in Q4 and breezing past consensus of 4.2%.
    • On quarter, GDP +1.5% vs +0.2% +1%.
    • The economy was boosted by personal consumption soaring an annualized 8.5% as shoppers rushed to make purchases prior to sales tax rising to 8% from 5% on April 1. Businesses lifted capex 4.9%, while they also increased output, capex, jobs and overtime pay.
    • The downside of the strong overall print is that the economy is expected to pull back in Q2.
    • The Nikkei is -0.75% as Sony weighs on sentiment following its poor earnings reports, while the USD-JPY is flat at ¥101.93. (PR)
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, JYN, NKY, DBJP, EZJ, EWV, YCL, JPNL, ITF, JGBL, JPP, JGBT, JPNS, HEWJ, JGBB, FJP
    | 2 Comments
  • May 2, 2014, 3:53 AM
    • Japan's unemployment rate held steady at 3.6% in March, as expected (PR)
    • Overall household spending jumped 7.2% on year after dropping 2.5% in February and blew past consensus of +1%. The likelihood is that consumers rushed to make purchases before a hike in sales tax to 8% from 5% went into effect on April 1. (PR)
    • The impact of the tax rise may not be as strong as feared, as auto makers and major department-stores yesterday reported smaller-than-expected declines in April sales.
    • The Nikkei is +0.6%, while the USD-JPY is +0.15 at ¥102.48.
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DFJ, NKY, JYN, DBJP, EZJ, EWV, YCL, SCJ, DXJS, JPNL, JSC, ITF, JGBL, JPP, JGBT, JPNS, JGBB, HEWJ, FJP, DXJH, DXJT, DXJC, DXJR, DXJF
    | Comment!
  • Apr. 28, 2014, 2:18 AM
    • Japanese retail sales jumped at the fastest level in 17 years in March, climbing an expected 11% on year after growing 3.6% in February.
    • On month, sales soared 16.1% vs +1.3%.
    • The reason for the large gain is that consumers rushed to purchase goods before a rise in sales tax to 8% from 5% went into effect on April 1. The upshot is that sales are expected to fall this month but then recover in May.
    • The Nikkei is -1.05%, while the USD-JPY is +0.05% at ¥102.25.
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DFJ, NKY, JYN, DBJP, EZJ, EWV, YCL, DXJS, SCJ, JPNL, JSC, ITF, JGBL, JPP, JGBT, JPNS, JGBB, HEWJ, FJP
    | Comment!
  • Apr. 25, 2014, 2:25 AM
    • Japanese core inflation, which excludes fresh food prices, held steady at 1.3% on year in March but came in below consensus of 1.4%.
    • Core core CPI, which excludes fresh food and energy, slipped to +0.7% from +0.8% in February.
    • Overall inflation increased to 1.6% from 1.5%.
    • Tokyo CPI surged to +2.9% in April from +1.3% in March and core inflation to 2.7% from 1% for the biggest rise since 1992, boosted by the hike in sales tax at the start of the month. Excluding that increase, prices rose just 1%, as in March.
    • The question is whether the Bank of Japan's attempt to push inflation to 2% by 2015 has stalled despite the BOJ's massive bond-buying. If so, the bank might feel the need to increase its asset purchases. (PR)
    • BOJ officials are increasingly concerned that the domestic bond market isn't reflecting how inflation has risen over the past year or so, Bloomberg reports. That raises the risk that yields could suddenly surge. The problem for the BOJ is that yields have stayed low because of its QE program.
    • Meanwhile, President Barack Obama has ended a three-day trip to Japan without sealing a trade deal that's seen as key to the wider 12-nation Trans-Pacific Partnership. While the U.S. and Japan have made a breakthrough on market access, gaps remain.
    • The Nikkei is +0.2% and the USD-JPY is flat at ¥102.33.
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DFJ, NKY, JYN, DBJP, EZJ, EWV, YCL, SCJ, DXJS, JPNL, JSC, ITF, JGBL, JPP, JGBT, JPNS, JGBB, HEWJ, FJP
    | Comment!
  • Apr. 22, 2014, 4:06 AM
    • Japan has overhauled the investment committee of its $1.26T Government Pension Investment Fund (GPIF), the world's largest pension fund.
    • Prime Minister Shinzo Abe wants the GPIF to improve returns by making higher-risk investments and reducing its reliance on low-yielding government bonds.
    • Citigroup believes that the Bank of Japan could increase its bond-buying to offset reduced JGB purchases by the GPIF.
    • The revamp is part of Abe's "third arrow" of his strategy to reform the economy and lift Japan out of deflation.
    • Because of its mammoth size, the GPIF is closely watched as a bellwether for Japan's institutional investors. Last June, it increased its weighting of domestic stocks and lowered that for Japanese bonds.
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DFJ, NKY, JYN, DBJP, EZJ, EWV, YCL, SCJ, DXJS, JPNL, JSC, ITF, JGBL, JPP, JGBT, JPNS, JGBB, HEWJ, FJP
    | 1 Comment
  • Apr. 11, 2014, 4:53 AM
    • Japan's Cabinet has approved an unpopular plan to reinstate nuclear energy as an important source of electricity, although there are doubts about how big a role atomic power will be able to play.
    • Japan may have to leave up to two-thirds of its 48 idled nuclear reactors closed, a Reuters analysis shows, due to the high cost of upgrades, local opposition or seismic risks.
    • The country's nuclear plants were shut following the Fukushima disaster over three years ago, which has caused the country to significantly increase its energy imports. That has acted as a drag on GDP and prompted fears that Japan could suffer from a permanent current-account surplus which could undermine confidence in its massive debt.
    • Relevant tickers: DNN, CCJ, USU, URRE, UEC, URG
    • Japan ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, JYN, NKY, DBJP, EZJ, EWV, YCL, ITF, JPNL, JGBL, JPP, JGBT, JPNS, HEWJ, JGBB, FJP, URA
    • Nuclear ETFs: URA, NLR, NUCL
    | 11 Comments
  • Apr. 9, 2014, 2:21 PM
    • The greenback hits session lows across the board following the dovish tilt to the FOMC minutes, with the takeaway being members seemed in less of a hurry to hike rates than the spin following the policy statement and Yellen press conference that day in mid-March.
    • Higher on the session are the euro (FXE +0.4%), pound (FXB +0.1%), swissie (FXF +0.1%), aussie (FXA +0.2%), and loonie (FXC +0.4%). Flat on the session after being down earlier is the yen (FXY -0.2%).
    • UUP -0.3%
    • Dollar ETFs: UUP, UDN, DBV, FORX, UDNT, UUPT, USDU
    • Related currency ETFs: FXE, FXY, FXA, EUO, YCS, FXB, ERO, JYN, GBB, DRR, CROC, YCL, EUFX, ULE, URR, GDAY
    | Comment!
  • Apr. 8, 2014, 2:42 AM
    • As expected, the Bank of Japan has left its key interest rate at 0.1% and maintained its program of expanding the monetary base by ¥60-70T ($580-680B) a year.
    • The BOJ refrained from further easing and maintained its optimism about the economy despite concerns about the impact of a rise in sales tax that took effect last week.
    • The "economy is continuing to recover moderately...albeit with some fluctuations due to the consumption tax hike," the bank said.
    • Japan's current account swung back to a surplus for the first time in five months in February, with the number coming in at ¥612.7B from a record deficit of ¥1.59T in January, although the surplus was lower than consensus of ¥628B. There have been fears that the deficit could become permanent, which could weaken confidence in Japan's massive debt.
    • The Nikkei closes -1.4%, while the USD-JPY is -0.3% at ¥102.80. (PR)
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DFJ, JYN, NKY, DBJP, EZJ, EWV, YCL, SCJ, DXJS, JSC, ITF, JGBL, JPP, JPNL, JGBT, JPNS, FJP, JGBB
    | 1 Comment
  • Apr. 1, 2014, 3:29 AM
    • The Bank of Japan's Tankan survey of large-manufacturing sentiment increased for the fifth consecutive time, edging up to a seven-year high of 17 in Q1 from 16 in Q4 but slightly missing consensus of 18.
    • The non-manufacturing index rose to 24 from 20, as expected.
    • However, with sales tax increasing to 8% today from 5%, the manufacturing outlook print slumped to 8 from 14 and the non-manufacturing outlook dropped to 13 from 17. Both figures were worse than expected.
    • In addition, big companies expect to increase capital spending by just 0.1% this fiscal year, which starts today, way below a previous reading of 3.9%.
    • "There isn't much reason for companies to be optimistic," says economist Shinichiro Kobayashi. "The sales-tax hike is going to drag on the economy, and exports have been weaker than expected on the back of a slow global recovery." (PR)
    • Meanwhile, Japanese shoppers went on a spending binge to stock up ahead of the tax hike.
    • The Nikkei closed -0.2%, while the USD-JPY is +0.1% at ¥103.29.
    • ETFs: DXJ, EWJ, FXY, YCS, EPP, JGBS, JGBD, AAXJ, NKY, JYN, DBJP, EZJ, EWV, GMF, YCL, AXJL, JPNL, ITF, JGBL, EEMA, JPP, JGBT, JPNS, PAF, JGBB, JPX, HEWJ, FPA, FJP, UXJ, DBAP
    | Comment!
Visit Seeking Alpha's
FXY vs. ETF Alternatives
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.
See more details on sponsor's website
Country: Japan
ETF Hub
Find the right ETFs for your portfolio: Visit Seeking Alpha's ETF Hub