The yen has opened the week on a low
30.03.2015
In the end of March, the USD/JPY pair managed to find a "foothold" and is slowly moving up. However, there will be a lot of statistics this week and much can change.
On Monday, the Japanese yen is slightly retreating against the US dollar. For now this decline looks like a pause in a series of fortifications. Last week, the yen rose against the US dollar in all five trading sessions.
According to the head of the Bank of Japan, Mr. Kuroda, inflation in the first half of 2015 will remain at lower figures due to several factors. Maybe the situation will spread a little further. Kuroda said that inflationary pressures will only begin to strengthen in September this year. Against this background it is early to talk about the mechanisms of exit from the incentive program.
At the moment, the stimulation of the Japanese economy is estimated at 80 trillion yen annually. With such mechanisms the Central Bank expects to raise economic growth of Japan and to minimize the risks of deflation. In the morning statistics on industrial production in Japan in February came out. The indicator "collapsed" by 3.4% against the growth in the previous month of 3.7%. Y/y February's industrial production fell by 2.6%.
Statistics is pretty informative and shows the volume of production in factories. The drop in the index of industrial production played in favour of the sales of the JPY.
RoboForex Analytical Department
On Monday, the Japanese yen is slightly retreating against the US dollar. For now this decline looks like a pause in a series of fortifications. Last week, the yen rose against the US dollar in all five trading sessions.
According to the head of the Bank of Japan, Mr. Kuroda, inflation in the first half of 2015 will remain at lower figures due to several factors. Maybe the situation will spread a little further. Kuroda said that inflationary pressures will only begin to strengthen in September this year. Against this background it is early to talk about the mechanisms of exit from the incentive program.
At the moment, the stimulation of the Japanese economy is estimated at 80 trillion yen annually. With such mechanisms the Central Bank expects to raise economic growth of Japan and to minimize the risks of deflation. In the morning statistics on industrial production in Japan in February came out. The indicator "collapsed" by 3.4% against the growth in the previous month of 3.7%. Y/y February's industrial production fell by 2.6%.
Statistics is pretty informative and shows the volume of production in factories. The drop in the index of industrial production played in favour of the sales of the JPY.
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.