Idea of the Day We talked last week about how the dollar was not quite going to plan in the current quarter and one of the reasons it has not appreciated in the manner expected has been the strength of the yen. The Upper House elections were meant to pave the way for a fresh period of yen weakness, but as it is we’ve seen the yen outperform on the majors since that date by a considerable margin. The latest GDP data have added to the perception that the impact of Abenomics is falling short of that anticipated by the market, the economy expanding by a weaker than expected 0.6% QoQ. The other factor is that investment spending continues to fall at a time when government policies were meant to be encouraging firms to invest on the basis of the better prospects for future growth. For now at least, firms are not quite buying into it and neither is the yen. Data/Event Risks FX: No data of note for Monday. JPY: Focus for Tuesday will be machine orders and more so the minutes to the July BoJ meeting, which could give more indications of the BoJ’s propensity to offers more stimulus measures. Latest FX News JPY: The latest GDP data for Q2 suggesting that Abenomics is not having the desired effect, growth expanding 0.6% on QoQ basis, vs. expectations of 0.9% gain. Investment spending was again weak. USDJPY pushed below the 96.00 level briefly, but has since recovered to trade around the 96.50 level AUD: Moving into election mode over the weekend, with the first of the PM candidate debates. The current PM sits behind in the polls and it’s only if the gap closes that events are likely to be of more significance for the currency. The Aussie a little steadier so far today after last week’s strong corrective move to the 0.9200 level. EUR: Focus on growth this week, with data expected to show Eurozone moving out of recession. Today, GDP data for Spain has shown a 0.1% QoQ increase in Q2, after -1.0% in Q1. Eurozone GDP released Wednesday. EUR has held below the 1.34 level in Asia trade. Further reading: Canadian loses almost 40K jobs – USD/CAD leaps It seems that currency markets have ruled out a Septaper FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Forex News Today: Daily Trading News share Read Next USDCAD: Bearish, Sets Up To Resume Weakness FX Tech Strategy 9 years Idea of the Day We talked last week about how the dollar was not quite going to plan in the current quarter and one of the reasons it has not appreciated in the manner expected has been the strength of the yen. The Upper House elections were meant to pave the way for a fresh period of yen weakness, but as it is we've seen the yen outperform on the majors since that date by a considerable margin. The latest GDP data have added to the perception that the impact of Abenomics is falling short of that anticipated by the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.