The Yen is trying to rise again. Overview for 30.07.2019

USDJPY is making another attempt to fall; investors are focused on meetings of central banks. 

On Tuesday morning, the Japanese Yen is getting stronger against the USD. The current quote for the instrument is 108.65.

The numbers published in the morning showed that the Unemployment Rate in Japan fell from 2.4% in May to 2.3% in June, although it wasn’t expected to change. 

The Industrial Production lost 3.6% m/m in June. It’s a preliminary report, but it doesn't make it any better. The month before, the indicator added 2.0% m/m, while the expected reading was -1.8% m/m. 

However, investors’ undivided attention was focused on the Bank of Japan meeting. The key rate remained unchanged at -0.10%, just as expected. 

In anticipation of more trade wars in Asia caused by the USA, it’s obvious that the Japanese economy requires additional “fueling”, otherwise the country’s export may get under significant long-term pressure and won’t provide any support to the economy. 

Right now, market players’ attention is switching to the US Federal Reserve meeting, which opens today and will be over on Wednesday night.