The Japanese yen slightly rose against the USD
27.02.2015
On Friday morning, the USD/JPY pair is falling after yesterday’s rally: most likely, this is purely a technical pullback, as the flow of Japanese statistical data is too ambiguous.
The Japanese yen on Friday morning is moving up, although yesterday the yen literally "surrendered" in pairing with the USD. On Thursday evening the USD managed to rise sharply after the publication of the report on the volume of orders for durable goods in the US in January - for the first time in three months there was a strengthening of the indicator.
There was a lot of morning statistics on Japan today. Inflation in Japan fell again in January, which is a trend for the sixth month in a row. The consumer price index, at the beginning of the year amounted to 2.2% y/y vs. the forecast of 2.3% and the previous value of 2.5% y/y. In fact, the assessment of price dynamics is deteriorating, although the Bank of Japan has not commented on this trend.
One could even say that the entire monetary policy of the BoJ, entirely built on the fight against deflation, is collapsing. But let’s not be hesitant with such statements: it is necessary to follow the trend.
Today a report came out, according to which household spending in January fell by 5.1% while the forecast fall by 4%. The indicator indirectly shows the level of consumer optimism. As can be seen, optimism is almost gone.
Japan's unemployment rate in January was 3.6%: there is a marked increase in comparison with the figure of December, when the rate was 3.4%.
RoboForex Analytical Department
The Japanese yen on Friday morning is moving up, although yesterday the yen literally "surrendered" in pairing with the USD. On Thursday evening the USD managed to rise sharply after the publication of the report on the volume of orders for durable goods in the US in January - for the first time in three months there was a strengthening of the indicator.
There was a lot of morning statistics on Japan today. Inflation in Japan fell again in January, which is a trend for the sixth month in a row. The consumer price index, at the beginning of the year amounted to 2.2% y/y vs. the forecast of 2.3% and the previous value of 2.5% y/y. In fact, the assessment of price dynamics is deteriorating, although the Bank of Japan has not commented on this trend.
One could even say that the entire monetary policy of the BoJ, entirely built on the fight against deflation, is collapsing. But let’s not be hesitant with such statements: it is necessary to follow the trend.
Today a report came out, according to which household spending in January fell by 5.1% while the forecast fall by 4%. The indicator indirectly shows the level of consumer optimism. As can be seen, optimism is almost gone.
Japan's unemployment rate in January was 3.6%: there is a marked increase in comparison with the figure of December, when the rate was 3.4%.
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.