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USD/JPY made its way up for a change, as global tensions eased and demand for the “safe” yen diminished. Japan’s rate decision and the accompanying press conference are the main events this week. Will European worries send new flows to the Japanese currency? Here’s an outlook for the Japanese events and an updated technical analysis for USD/JPY.

Lower European worries joined the lower chances for more dollar printing in the US, and also pushed the pair higher. Japan’s current account surplus shrank unexpectedly in April to 0.29T from 0.79T in March, while economists expected a smaller drop to 0.65T. This decline was affected by the slowdown in China but a gradual ongoing dwindling in Japan’s current account surplus, ...

After a brutal month of May, the Australian dollar roared back, gaining about 260 pips against the US dollar, as the aussie even touched above parity. The pair closed the week just above the 0.99 line, at 0.9907. The upcoming week is very quiet, with just three releases. Here is an outlook for the Australian events, and an updated technical analysis for AUD/USD.

The Australian dollar was buoyed by some excellent economic data. GDP jumped 1.3%, its best result in four years. As well, Employment Change was well above the market forecast. The markets shrugged off some of the weaker releases, such as the rise in unemployment.

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