The Yen is slowly recovering. Overview for 08.12.2016
08.12.2016
The USD/JPY pair is trading to the downside for the second day in a row, but not very actively, as the market is waiting for the outside signals.
While the demand for the American currency is rather calm, the Japanese Yen is slowly growing. The current quote for the instrument is 113.64. However, there are no any internal support factors.
According to the statistics published this morning, the country’s final GDP in the third quarter added 0.3% q/q, which is twice less than expectations of 0.6% q/q. On YoY, the indicator expanded by 1.3% after adding 2.2% in the second quarter. The market expected the number to be close to 2.3%.
Judging by the released data, one can think that the external uncertainty and the export decline have a significant effect on the Japanese GDP. Another negative factor is a slow salary growth over the country, which prevents retail sales from expanding.
On top of that, such indicator as the Foreign Bond Investment is improving very slowly. Partially, it is compensated by the growth of the Private Consumption in the third quarter (added 0.3% against expectations of 0.1%), but in the fourth quarter this indicator is very unlikely to provide any support because there is a limit to the consumer confidence.
The Yen responded to the statistics with an insignificant decline, but managed to process this news quite fast and was back to strengthening.
RoboForex Analytical Department
While the demand for the American currency is rather calm, the Japanese Yen is slowly growing. The current quote for the instrument is 113.64. However, there are no any internal support factors.
According to the statistics published this morning, the country’s final GDP in the third quarter added 0.3% q/q, which is twice less than expectations of 0.6% q/q. On YoY, the indicator expanded by 1.3% after adding 2.2% in the second quarter. The market expected the number to be close to 2.3%.
Judging by the released data, one can think that the external uncertainty and the export decline have a significant effect on the Japanese GDP. Another negative factor is a slow salary growth over the country, which prevents retail sales from expanding.
On top of that, such indicator as the Foreign Bond Investment is improving very slowly. Partially, it is compensated by the growth of the Private Consumption in the third quarter (added 0.3% against expectations of 0.1%), but in the fourth quarter this indicator is very unlikely to provide any support because there is a limit to the consumer confidence.
The Yen responded to the statistics with an insignificant decline, but managed to process this news quite fast and was back to strengthening.
RoboForex Analytical Department
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.