The yen stopped falling
29.05.2015
On Friday the USD/JPY pair stopped growing by the sharp pace with which it moved all week. Rather, it is a pause before the decisive jerk.
Japanese Yen on Friday stopped its rapid fall. After five sessions of vigorous sales of the yen and an update of seven year lows, a pause happened.
In the morning a block of statistics on the economy of Japan came out. Industrial production in April fell by 0.1% y/y. On a monthly basis the index rose by 1.0% against the forecast of growth of 0.8%. The National Consumer Price Index (peeled) last month added 0.3% y/y while expecting growth of 0.2% y/y. The result is clearly good, although significantly behind the projections of the Central Bank.
As a result, inflation in Japan in April increased by 0.6% y/y. The April unemployment rate was 3.3% against the forecast of 3.4%.
Household spending in Japan in April slipped by 1.3% y/y. Despite the fall in the statistics, the data came out better than expected. Economists assumed that the indicator will fall by no less than 3.1% y/y.
Despite the share of uncertainty the statistics it interesting: it is not by much, but consistently better than expected. There are two options: either the Central Bank initially slightly understated expectations or the economic potential of Japan is still able to work a miracle.
Japanese Yen on Friday stopped its rapid fall. After five sessions of vigorous sales of the yen and an update of seven year lows, a pause happened.
In the morning a block of statistics on the economy of Japan came out. Industrial production in April fell by 0.1% y/y. On a monthly basis the index rose by 1.0% against the forecast of growth of 0.8%. The National Consumer Price Index (peeled) last month added 0.3% y/y while expecting growth of 0.2% y/y. The result is clearly good, although significantly behind the projections of the Central Bank.
As a result, inflation in Japan in April increased by 0.6% y/y. The April unemployment rate was 3.3% against the forecast of 3.4%.
Household spending in Japan in April slipped by 1.3% y/y. Despite the fall in the statistics, the data came out better than expected. Economists assumed that the indicator will fall by no less than 3.1% y/y.
Despite the share of uncertainty the statistics it interesting: it is not by much, but consistently better than expected. There are two options: either the Central Bank initially slightly understated expectations or the economic potential of Japan is still able to work a miracle.
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