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4 Hourly Chart

USD/JPY traded sharply lower today, taking cue from the slide in Nikkei 225 that saw the index losing 7.32% in a single day. The decline in stocks was so huge that Economy Minister Amari had to come out and speak publicly on the happenings in order to ease tensions and answer questions. However, Amari failed to instil confidence back into the market, with USD/JPY continue to slide lower after he said at first that the stock decline was [...]

Hourly Chart

1,143.28. That is the number which amounts to 7.32% fall in Nikkei 225. Price took a total beating today after the HSBC Chinese Flash Manufacturing reflected shrinkage instead of the stable growth that everybody’s been hoping for. This may be a legit reason for true bearishness to seep in, but looking across Asia, none of the stocks indices suffered the same magnitude of decline as Japan. Singapore’s STI went down 1.83%, Hang Seng 2.48%, ASX 1.99%, while Chinese Shenzhen [...]

Federal Reserve Chairman Ben S. Bernanke defended the central bank’s record stimulus program under questioning from lawmakers, telling them that ending it prematurely would endanger a recovery hampered by high unemployment and government spending cuts.
“A premature tightening of monetary policy could lead interest rates to rise temporarily but would also carry a substantial risk of slowing or ending the economic recovery and causing inflation to fall further,” Bernanke said today in testimony to the Joint Economic Committee of Congress in [...]

Tesla Motors announced Wednesday that it has repaid a $465 million loan from the government nearly a decade before it was scheduled to do so.

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Japan has posted its tenth straight monthly trade deficit as a weaker yen increased the cost of imports more than it helped boost exports.
The deficit of 879.9bn yen ($8.6bn; £5.7bn) in April was wider than many economists had forecast.
Japan has deliberately weakened the yen to make its goods cheaper abroad and boost demand. However, this also makes imports, such as energy, more pricey.
The deficit is expected to shrink in coming months, as exports pick up more.
In April, exports rose by [...]

Retail sales in April were 1.3% lower than in March as bad weather continued to dent spending.
The Office for National Statistics (ONS) also said retail sales volumes last month were 0.5% higher than a year earlier, much less than expected.
The ONS said that sales of garden furniture and barbecue food were especially hard hit last month.
Total food sales plunged 4.1% in April, their largest monthly fall in almost two years.
“Feedback from large food store retailers suggested that the cold weather [...]

The UK economy is still a long way from “a strong and sustainable recovery”, the International Monetary Fund (IMF) has warned.
In its concluding statement on its mission to the UK, the IMF said austerity measures were acting as a drag on the economy.
The government could do more to offset the negative impact of austerity with infrastructure spending, it said.
George Osborne said the UK would not “duck its economic challenges”.
The IMF acknowledged that the UK’s austerity programme had earned the government [...]

Influential auto analyst John Murphy sees some stability for the world’s automakers in the next few years. But don’t look for any significant shifts in market share.