The USD/JPY pair is growing on Tuesday after Japan publish several macroeconomic reports.
On Tuesday, the Japanese Yen found itself under pressure once again. The pause between sales of the Yen was too short and right now the USD is strengthening again. The current quote for the pair is 112.53.
In the morning, Japan published several interesting reports. The Retail Sales dropped 0.1% y/y in October against expectations of losing 1.2% y/y. The indicator has been in the negative for eight consecutive months. It has clearly improved, but will take some time to stabilize. On MoM, the indicator improved by 2.5% after adding just 0.3% in September.
The Household Spending lost 0.4% y/y in October, although it was predicted to drop 0.6% y/y. The Unemployment Rate remained the same as the month before at 3% and matched expectations.
The statistics was contradictory, but still rather positive. Considering all nuances sophisticated methods of the BoJ’s QE program, it works, although with some mixed efficiency. One can’t call the economy stable because of too many complications in it, but still, it’s quite positive.
The Yen will remain under pressure for a little longer, until the middle of December at least. The uptrend in the USD/JPY pair started on November 4th
and doesn’t seem to end so far.
RoboForex Analytical Department
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.