Yen In the Black Again. Overview for 01.09.2020

01.09.2020

On Tuesday, the Japanese yen started growing in pair with the USD. The current quotation is 105.63.

The statistics published in the morning showed a slight growth of the unemployment rate in Japan. From 2.8%, it rose to 2.9%. Still, the digits are lower than the forecast 3%. The situation in the Japanese labor market cannot be called critical – companies and businesses put maximum effort in presuming workplaces. Nonetheless, they could not totally avoid the influence of the pandemics.

The final digits of the PMI in the production sector in August grew to 47.2 points – this is quite a good result, especially that it had been forecast that the result will be the same as before (46.6).

The yen is currently enjoying demand as a safe-haven asset and logically reacts to the noticeable decline of the dollar in the world financial market. The weakness of the USD stimulates the yen to grow, which is, generally speaking, not the best news for the Japanese economy.

This week, there will be no more important statistics in Japan, and the market will gradually turn back to European and US reports.

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.