The Yen is reaching stability Overview for 01.03.2018

Yesterday, USDJPY weakened significantly, but reached stability on Thursday in anticipation of the news.

The Japanese Yen stopped yesterday’s growth against the USD. The current quote for the instrument is 106.80.

One of the macroeconomic reports published by Japan in the morning attracts more attention than others. The Final Manufacturing PMI increased up to 54.1 points in February after being 54.0 points in the previous month. After several disappointing reports published the day before, this reading, which is quite neutral indeed, may be considered as positive.

The components of the report show that the business sentiment is estimated as positive, because they hired more people this month than earlier. It means that businesses may afford to hire more employees and require new labor force due to the keen demand.

The Consumer Confidence in Japan fell from 44.7 points in January to 44.3 points this month. It’s hardly positive, because the indicator has been moving below the psychologically-crucial level of 50 points, which separates decline and growth, for a long time.

In general, investors continue watching the behavior of the American currency, which is still feeling support from the speech of the new FOMC Chairman Powell delivered yesterday

RoboForex Analytical Department