On Thursday morning, USDJPY reversed upwards; investors overestimated the risks.
The Japanese yen is back to weakening against the USD. The current quote for the instrument is 113.69.
The statistics published by Japan today showed that the Bank Lending increased worse than expected in October, +2.2% y/y against +2.4% y/y.
Another report, the Core Machinery Orders plummeted by 18.3% m/m in September after adding 6.8% m/m the month before and against the expected reading of -9.5% m/m. On YoY, the indicator lost 7.0% after expanding by 16.6% in August.
The reason for this plunge was a massive earthquake in September, which significantly affected the country’s business environment.
At the same time, some manufacturers have already announced their intentions to speed up production in the fourth quarter to eliminate the current plunge. However, these plans might be too ambitious and not all of them are likely turn into reality. Apart from this, one should realize that the actual numbers will surely impact the Export parameters.
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.
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