The Yen lost stability. Overview for 31.03.2020

31.03.2020

USDJPY is slightly growing on Tuesday but investors’ interest in the Yen didn’t disappear.

On Tuesday afternoon, the Japanese Yen is weakening against the USD. The current quote for the instrument is 108.54.

Market players all over the world are still expecting effects from global stimulus programs announced by the Bank of Japan, the US Federal Reserve, and the European Central Bank. A gradual rise in liquidity inside financial systems should smooth fluctuations of currencies and assets. However, emotions are prevailing so far. 

The statistics published in the morning showed that the Unemployment Rate in Japan remained the same at 2.4%. The indicator wasn’t expected to change, however, there were some concerns that severance of economic relations due to the spreading coronavirus pandemic in Asia might somehow influence the Japanese labor market. 

The Retail Sales added 1.7% y/y in February after losing 0.4% y/y in the previous month. It’s a good signal.

The preliminary report on the Industrial Production showed +0.4% m/m against the expected reading of 0%. It means that the sector managed to keep the positive momentum that started in January. 

So far, numbers from Japan are looking quite stable considering financial losses suffered by manufacturers in China. 

Attention!

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.