Cookies help us deliver our services. By using our services, you agree to our use of cookies.
Learn more Got it
Dakar 2017
Roboforex is an official sponsor
of "Starikovich-Heskes Team"
at the Dakar 2017
Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Yen is barely moving. Overview for 24.10.2016
Ask a question
Did not find the information you need? Ask your questions and get answers online!
Enter chat
Or enter your phone number in the form below and we will call you right away.
Call back




The Yen is barely moving. Overview for 24.10.2016

24.10.2016
On Monday, the USD/JPY pair is trading a little bit to the upside, but the activity is very low.

The Japanese Yen is weakening a bit in the pair with the USD at the beginning of the week. The current quote for the instrument is 103.93.

According to the statistics published today, the Flash Manufacturing PMI in Japan in October increased up to 51.1 points after 50.4 points in September. The corresponding observations from Nikkei and Markit say the growth of the indicator means that optimism and confidence in the manufacturing sector is improving. For Japanese economy, it’s a good sign.

The current statistics turned out to be the most significant over the last 9 months. Next week, the Final Manufacturing PMI will be published, but it’s very unlikely to differ from today’s numbers. Given that the October Manufacturing PMI is strong so far, the overall report regarding the manufacturing sector might be rather strong as well. This, in its turn, will serve as a foundation for the country’s GDP.

Overall, at the beginning of the week, the situation on the currency market looks calm and quiet. The market is a bit tired of fluctuations and, due to the informational stillness, trading in narrow ranges.
 
RoboForex Analytical Department

Dear reader!

Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.

Attention!

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.