By FX Empire.com
The USD/JPY pair ended last week with more losses which increase pressure on the BOJ to intervene once again in the FX market to prevent the yen from recording more gains against the greenback which hurt the Japanese economy.
The EU debt crisis still dominates investors’ sentiment and reflected negatively on other economies performance, which is drawing a pessimistic outlook for the global economy, pushing investors to abandon riskier assets.
On Monday at 23:50 GMT (Sunday), Japan will issue Merchandise Trade Balance for October, where it’s expected to show surplus of 28.8 billion yen compare to the previous surplus of 300.4 billion yen.
The Adjusted Merchandise Trade Balance for October is expected to show a deficit of 82.0 billion yen widening from 21.8 billion yen deficit.
At 04:30 GMT, the Japanese economy will release the All Industry Activity Index for September, where it’s expected to fall by 1.0% from the previous reading of -0.5%.
Coincident Index for September will be released at 05:00 GMT, where it had a prior reading of 88.9, while the Leading Index for the same month had a previous reading of 91.6.
At 15:00 GMT, the U.S. economy will release the Existing Home Sales for October, where it’s expected to come at 4.80 million down by 2.2% from the previous reading of 4.91 million which is down by 3.0%.
Originally posted here
