The Yen got stabilized for a while. Overview for 30.10.2017

The USD/JPY pair isn’t moving very actively at the beginning of the week; the market is looking for a support.

The Japanese Yen is trying to stabilize against the USD on Monday. The current quote for the instrument is 113.58.

The statistics published by Japan in the morning showed that the Retail Sales expanded by 2.2% y/y in September. It’s a bit lower than was expected, but better than the August reading. Anyway, the current number is the best over the last three months. On MoM, the indicators increased by 0.8% in comparison with the decline in the previous month by 1.7%.

In the comments, the Ministry of Economy of Japan, which published the report, said that consumers were ready to spend more, even despite the situation on the labor market. However, the Retail Sales date over the quarter may be worse than the quarter before. The future outlook for the indicator until the end of the year is estimated as positive.

Right now, investors pay a lot of attention to the US Dollar. Last Friday, the USA reported on the country’s GDP, which was pretty good. In addition to that, the US Federal Reserve is going to have another two-day meeting, which is set to start tomorrow and finish on Wednesday. The benchmark rate will remain the same this time, but investors are counting on more positive comments. All these factors keep the interest to the USD alive against other traded currencies.

RoboForex Analytical Department