The Japanese yen against the US dollar is growing in Thursday morning, playing back what it has lost. The current USDJPY quotation is 109.67.
The statistics published yesterday showed that household expenses dropped by 6.6%y/y against the previous decline by 6.1% y/y and a forecast improvement to - 5.3% y/y. As for the m/m calculation, consumer expenses in February grew by 2.4% against the expected growth by 2.8% m/m. However, compared to the Japanese statistics where we saw a decline by 7.3% m/m, the current result looks rather bright.
The Japanese leading indicator index in February grew by 1.2 points against the previous increase by 0.8 points. This is a good signal that might mean some improvement in the economy of Japan.
Fresh statistics demonstrates theat the CCI in March grew by 36.1 points while in February, it rested at 33.8 points. This is very good news because in Japanese economy, consumers' moods seem to decide virtually everything. As soon as the consumer starts spending actively, the economy will liven up. However, this miracle has not been seen for long.
Now the yen is restoring quite well, finding a foothold in the weakening of the dollar.
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.