The yen “revived” a bit
19.11.2015
The USD/JPY pair fell during Thursday on the comments on the results of the next meeting of the Bank of Japan.
On Thursday afternoon, the Japanese Yen slowly grows in tandem with the US dollar. The current quote in the instrument is 123.35.
Today a meeting of the Bank of Japan ended, where it was decided not to change the parameters of monetary policy. The issue of increasing the money supply is clearly resolved: stimulation remains the same, 80 trillion yen a year. The proposal of the BoJ member Mr. Kiut to reduce the limit under the incentive program to 45 trillion yen was rejected. The Bank's decision was thus made by eight votes against one.
In the comments the regulator slightly lowered the estimate of inflation in the country, as a number of important indicators presented in recent years, showed a weak trend.
This morning interesting data on the trade balance of Japan came out. The foreign trade deficit in October amounted to 111.5 billion yen, and it is twice the average market expectations. The indicator for the first six months left region deficient values and a positive signal as a whole.
The components of the release show that the levels of exports exceeded imports. Exports decreased by 2.1%, while imports fell by 4.6%. Still, the weakness of the Japanese yen was not able to completely neutralize the negative effect of the slowdown of the neighboring Chinese economy.
Japan's economy itself is still in the zone of recession. Judging by the published macroeconomic reports for the fourth quarter did not begin in the most confident way for the country. Do recall that August to September 2015 Japan's GDP sank by 0.8% y/y.
RoboForex Analytical Department
On Thursday afternoon, the Japanese Yen slowly grows in tandem with the US dollar. The current quote in the instrument is 123.35.
Today a meeting of the Bank of Japan ended, where it was decided not to change the parameters of monetary policy. The issue of increasing the money supply is clearly resolved: stimulation remains the same, 80 trillion yen a year. The proposal of the BoJ member Mr. Kiut to reduce the limit under the incentive program to 45 trillion yen was rejected. The Bank's decision was thus made by eight votes against one.
In the comments the regulator slightly lowered the estimate of inflation in the country, as a number of important indicators presented in recent years, showed a weak trend.
This morning interesting data on the trade balance of Japan came out. The foreign trade deficit in October amounted to 111.5 billion yen, and it is twice the average market expectations. The indicator for the first six months left region deficient values and a positive signal as a whole.
The components of the release show that the levels of exports exceeded imports. Exports decreased by 2.1%, while imports fell by 4.6%. Still, the weakness of the Japanese yen was not able to completely neutralize the negative effect of the slowdown of the neighboring Chinese economy.
Japan's economy itself is still in the zone of recession. Judging by the published macroeconomic reports for the fourth quarter did not begin in the most confident way for the country. Do recall that August to September 2015 Japan's GDP sank by 0.8% y/y.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.