At the beginning of the final week of the year, the USD / JPY pair is moving with a constant change of direction in response to the morning Statistics.
On Monday, the Japanese yen is constantly changing direction. In the first half of the day, the yen grew and in the second half, it is losing weight. The current quote in the USD/JPY pair is 120.43.
Morning statistics showed that November retail sales in Japan sank noticeably. The index fell by 1.0% y/y. Industrial production in Japan in the past month fell by 1.0% m/m (+ 1.6% y/y).
The components of the report on retail sales indicate that m/m the indicator fell by just 2.5%. Consumer spending is still not increasing - the population clearly believes that the economy has not overcome the difficulties and remains in a troubled state.
The second release - on industrial production - showed that the barely noticeable demand for products made in Japan from emerging markets remains the main factor of pressure on the sector. The decline in the industrial production indicator means the decline in the segment of manufacturing and is evaluated negatively in the general characteristics of the economy.
In other words, Japan's economic system is in a difficult position. On the one hand, the domestic monetary efforts have a good effect. However, without external stabilization of all the spent money will be wasted - as long as external demand is not quickened, no "fresh" finances will come into the economy.
RoboForex Analytical Department
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