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CurrencyShares Japanese Yen Trust ETF (FXY)

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  • Feb. 5, 2014, 2:14 AM
    • Japanese basic wages adjusted for inflation dropped to 98.9 on a Labor Ministry index in 2013, matching the level of 2009.
    • The fall stands in contrast to the government's efforts to encourage companies to increase salaries in order to strengthen the Bank of Japan's battle against deflation.
    • The data came as business and union leaders started this year's salary negotiations. "Each company will do their utmost to increase wages depending on their earning situation," said Hiromasa Yonekura, the head of Keidanren, Japan's largest business lobby.
    • The USD-JPY is -0.35% at ¥101.29, while the Nikkei closed +1.2% after falling sharply over the past few sessions.
    • ETFs: DXJ, EWJ, FXY, YCS, DFJ, JYN, DBJP, NKY, EZJ, EWV, YCL, SCJ, DXJS, JSC, ITF, JPP, JPNL, JPNS, FJP
    | 1 Comment
  • Feb. 4, 2014, 7:24 AM
    • Dollar/yen is ahead 0.3% to ¥101.26 after plunging below ¥101 yesterday amid the rout in stocks in the West. The dive was felt in the overnight trading session in Japan where the Nikkei plunged 4.2%, bringing its losses to what can be considered a crash-like level of 15% in a month.
    • Putting the 15% dive in perspective, the Nikkei was last at this level at the start of November. If January's move is a crash, than the move at the end of the year was a blow-off top.
    • Japan ETFs: DXJ, EWJ, FXY, YCS, DFJ, JYN, DBJP, NKY, EZJ, EWV, YCL, SCJ, DXJS, JSC, ITF, JPP, JPNL, JPNS, FJP
    | 3 Comments
  • Jan. 31, 2014, 2:41 AM
    • Japanese core inflation, which excludes food prices, edged up to a fresh five-year high of 1.3% on year in December from +1.2% in November and topped consensus of 1.2%.
    • Core core CPI, which excludes food and energy, rose to a new 16-year peak of 0.7% vs +0.6% a month earlier.
    • Overall inflation increased to 1.6% from 1.5%.
    • While CPI is heading towards the Bank of Japan's target of 2%, the government wants businesses to increase wages in order to solidify the rise in inflation, the test of which will come in Spring wage negotiations. There are also concerns about the impact of an increase in sales tax in April
    • "Consumers will be hit in the pocket from rising prices and the upcoming sales-tax hike," says JPMorgan's Masamichi Adachi. "The onus is now on companies to convert their profits into wage increases and capital spending."
    • Workers may be aided in their negotiations by a surplus of jobs: the number of positions for every person looking rose to 1.03, passing one for the first time since October 2007.
    • The unemployment rate dropped to the lowest number since December 2007, falling to 3.7% in December 2013 from 4% in November and vs forecasts of 3.9%.
    • Industrial production +1.1% on month vs -0.1% and +1.2%.
    • Overall household spending +0.7% vs +0.2% and +1.2%.
    • The Nikkei is -0.6% and the USD-JPY is -0.3% at ¥102.43.
    • ETFs: DXJ, EWJ, FXY, YCS, DFJ, JYN, DBJP, NKY, EZJ, EWV, YCL, SCJ, DXJS, JSC, ITF, JPP, JPNL, JPNS, FJP
    | 3 Comments
  • Jan. 27, 2014, 10:39 AM
    • Japan's trade deficit nearly doubled to a new high of ¥11.5T ($113B) in 2013, pulled upwards by the weak yen and increasing energy imports because of a shutdown of the country's nuclear industry.
    • Japan enjoyed surpluses for three decades until the Fukushima meltdown in 2011.
    • "It's hard to anticipate when Japan can emerge from trade deficits at this point," says economist Takeshi Minami. High energy costs could discourage companies from having production centers in Japan "and undermine Abenomics.
    • Previous
    • 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
    | 3 Comments
  • Jan. 26, 2014, 7:11 PM
    | 5 Comments
  • Jan. 24, 2014, 2:41 PM
    • Short yen (FXY +0.8%) has been as popular a trade as long equities (maybe even more), and it too is reversing in January. Off 0.95% today, dollar/yen is down to ¥102.30 after starting the year above ¥105. Was it the weak Chinese PMI report this week, or the realization that Abenomics - really little more than devaluation - isn't working? Maybe it was just a trade that got too crowded.
    • The ETF story of 2013 - the Japan Hedged Equity Fund (DXJ -2.2%) - is now off 5.8% YTD, it's taking its sponsor WisdomTree (WETF -7.2%), one of the big individual stock stories of 2013, with it.
    • Japan 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
  • Jan. 24, 2014, 4:23 AM
    • Asian shares have mostly fallen as investors have seemed to grow more fearful about the significance of poor Chinese manufacturing PMI data yesterday.
    • Investors have sought safe havens such as the yen - the USD-JPY is -0.3% at ¥103 - helping to send the Nikkei -1.9%.
    • "A correction could occur," says investment strategist Shane Oliver. "We have to expect more volatility. Shares are no longer dirt cheap, meaning the easy gains are behind us."
    • The once place where the PMI data didn't seem to to have an effect today was China, whose Shanghai Composite rose 0.6%. Stocks were partly boosted by money market rates falling again following a $42B+ injection of cash this week from the central bank ahead of the Lunar New Year. The seven-day repo rate dropped 77 bps to 4.61%.
    • "Bad news has been digested and liquidity has eased," says analyst Du Liang.
    • China ETFs: FXI, PGJ, GXC, FXP, CYB, YINN, HAO, CNY, TAO, CHIQ, ASHR, CHIX, YANG, MCHI, DSUM, PEK, KWEB, CQQQ, QQQC, XPP, YAO, CHXX, FXCH, CHII, CHXF, ECNS, CHIE, YXI, CHIM, KFYP, FCA, TCHI, CHLC, CHNA
    • Japan 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
    | Comment!
  • Jan. 22, 2014, 2:21 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 a year.
    • The BOJ noted that the economy has continued to recover moderately and will keep doing so, although it will be affected by a "front-loaded increase and subsequent decline in demand" due to an upcoming rise in sales taxes.
    • While "inflation expectations appear to be rising on the whole," the BOJ said, CPI is "likely to be around 1.25% for some time." The bank's target is 2%.
    • The Nikkei is +0.2%, while the USD-JPY is +0.1% to ¥104.45. (BOJ Statement)
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DFJ, JYN, NKY, DBJP, EZJ, EWV, YCL, SCJ, JGBL, JSC, JPP, ITF, DXJS, JGBT, JPNL, JPNS, FJP
    | Comment!
  • Jan. 20, 2014, 4:59 AM
    | 1 Comment
  • Jan. 15, 2014, 3:25 AM
    | Comment!
  • Jan. 14, 2014, 3:29 AM
    • Japan's current account deficit widened to a record ¥592.8B ($5.7B) in November from ¥127.9B in October and surpassed consensus of ¥380.4B.
    • The increase comes amid a rise in the value of imports, particularly because of the weak yen, and higher demand for foreign energy because of the shutdown of nuclear plants.
    • The long-term risk is that the deficit could become permanent, which could weaken confidence in Japan's massive debt. That scenario is being held off by a surplus in overseas income.
    • The Nikkei plunges 3.2% in the first day of trading this week. The dollar rises 0.4% to ¥103.42 after dropping 1.1% overnight. (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
    | 10 Comments
  • Jan. 13, 2014, 9:33 AM
    | 1 Comment
  • Jan. 10, 2014, 10:05 AM
    | 1 Comment
  • Jan. 8, 2014, 9:30 AM
    • As bearish as the rest of the investing universe on the yen (FXY), Morgan Stanley makes the case for a "tradable retracement" in dollar/yen back down to ¥98 (from nearly ¥105 today).
    • Among the catalysts could be a debt-induced slowdown in China hitting regional growth, and/or something to upset the current complacency in global financial markets.
    • There's also a possible loss in momentum in Abenomics - measures to boost long-term competitiveness are easy to announce, but less easy to put in place, and need time to see if they work.
    • Then there's the BOJ, whose recent commentary suggests the room for additional monetary easing has declined for the moment. Another boost could be months away.
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DFJ, JYN, NKY, DBJP, EZJ, EWV, YCL, SCJ, JSC, DXJS, ITF, JGBL, JPP, JPNL, JGBT, JPNS, FJP, JGBB
    | 2 Comments
  • Dec. 30, 2013, 4:53 AM
    • Japan's Nikkei 225 has closed the day and the year at a fresh six-year high of 16291, representing a rise of 0.7% for the session and 57% for the year. That makes 2013 the index's best annual performance since it jumped 92% in 1972.
    • Japanese stocks have been benefiting from the central bank's massive money printing, which has helped weaken the yen and boost exporters. The USD-JPY is +0.1% at ¥105.29 after the yen earlier hit a five year low of ¥105.41.
    • Elsewhere in Asia, Hong Kong ended flat and China -0.2%, while India is -0.2%.
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, DFJ, JYN, NKY, DBJP, EZJ, EWV, YCL, SCJ, JSC, ITF, JGBL, JPP, DXJS, JPNL, JGBT, JPNS, FJP, JGBB
    | Comment!
  • Dec. 29, 2013, 4:39 AM
    • Japan's most influential business lobby, the Keidanren lobby, will encourage its member companies to boost basic pay in 2014 for the first time in six years.
    • Even though CPI has hitting multi-year highs and corporate earnings have been improving, salaries have been slow to rise.
    • News of Keidanren's plan follows government calls for wage increases, which it sees as crucial in its battle against deflation.
    • ETFs: DXJ, EWJ, FXY, YCS, JGBS, JGBD, JYN, NKY, DBJP, EZJ, EWV, YCL, ITF, JGBL, JPP, JPNL, JGBT, JPNS, FJP, JGBB
    | 7 Comments
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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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