The Yen is falling for the fifth consecutive day. Overview for 28.10.2016
28.10.2016
The USD/JPY pair is rising the entire fourth week of October in response to the complex statistics and the demand for the American currency.
On Friday, the Japanese Yen is still retreating against the USD. The current quote for the instrument is 105.37.
The CPI in Japan continues falling. According to the statistics published today, the indicator decreased by 0.5% y/y. The National Core CPI also dropped 0.5% y/y. The components of the report show that the Household Spending decreased by 2.1% y/y last month. This indicator has been negative for 11 straight months, although now it’s better than expectations.
Two-day meeting of the Bank of Japan will be over next Tuesday, November 1st. Besides the weak statistics published today, the market’s expectations regarding the regulator’s more severe comments about the CPI and future monetary policy are growing. The inflation target is still 2% and most economists still thinks that it can be reached.
Even with all things considered, one shouldn’t wait any decisive actions from the CB after its November meeting: most regulators prefer to wait for the results of the USA Fed meeting and only then – start acting
RoboForex Analytical Department
On Friday, the Japanese Yen is still retreating against the USD. The current quote for the instrument is 105.37.
The CPI in Japan continues falling. According to the statistics published today, the indicator decreased by 0.5% y/y. The National Core CPI also dropped 0.5% y/y. The components of the report show that the Household Spending decreased by 2.1% y/y last month. This indicator has been negative for 11 straight months, although now it’s better than expectations.
Two-day meeting of the Bank of Japan will be over next Tuesday, November 1st. Besides the weak statistics published today, the market’s expectations regarding the regulator’s more severe comments about the CPI and future monetary policy are growing. The inflation target is still 2% and most economists still thinks that it can be reached.
Even with all things considered, one shouldn’t wait any decisive actions from the CB after its November meeting: most regulators prefer to wait for the results of the USA Fed meeting and only then – start acting
RoboForex Analytical Department
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.