Eye on Upcoming US Economic Indicators

  • Yen weakens due to receding expectations for a Bank of Japan rate hike
  • Sony Financial Group analyst Juntaro Morimoto believes yen won’t continue to be sold off one-sidedly
  • USD/JPY trading at 146.95
  • Market reaction will likely end soon, focusing on US economic indicators

The yen has weakened due to receding expectations for an imminent Bank of Japan rate hike, according to Sony Financial Group analyst Juntaro Morimoto. However, he believes that the Japanese currency is unlikely to continue its downward trend once the market reaction subsides. The focus will shift back to U.S. economic indicators such as weekly jobless claims and the ISM report on business services PMI. With USD/JPY trading at 146.95, investors should keep an eye on these key data points for potential shifts in the market.

Factuality Level: 8
Factuality Justification: The article provides relevant information about the yen’s weakening and mentions a specific analyst’s opinion, as well as upcoming U.S. economic indicators that may affect currency trading. It is not overly dramatic or misleading, and does not include personal bias or invalid arguments.
Noise Level: 3
Noise Justification: The article provides relevant information about the yen’s weakness and mentions some economic indicators to watch, but it lacks in-depth analysis or actionable insights.
Public Companies: Sony Financial Group (N/A)
Key People: Juntaro Morimoto (analyst)

Financial Relevance: Yes
Financial Markets Impacted: Yes
Financial Rating Justification: The article discusses the weakening of the yen and its potential impact on USD/JPY trading, as well as upcoming U.S. economic indicators that could affect financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text and it’s not related to any major topic or happened in the last 48 hours.
Deal Size: Output: 0
Move Size: No market move size mentioned.
Sector: All
Direction: Down
Magnitude: Small
Affected Instruments: Stocks, Currencies

Reported publicly: www.wsj.com