The Yen stabilized. Overview for 30.01.2018

USD/JPY is moving sideways, mostly because of the stabilization of USD.

The Japanese Yen stopped rising quickly against the USD and got stabilized inside the range. The current quote for the instrument is 108.69.

The statistics published in the morning showed that the Unemployment Rate in Japan increased up to 2.8% in December after being 2.7% in the previous month. The report has been adjusted seasonally. The Participation Rate was about 65.42 billion people, which is much more than in November. The number of unemployed decreased, but it didn’t have any influence on the indicator.

The Retail Sales in Japan skyrocketed in December and added 3.6% y/y after expanding by 2.1% the month before and against the same expected reading. On MoM, the indicator increased only by 0.9%, which is twice as much as expected. The major contribution was made by sales in the country’s largest retailers: the number expanded by 1.1% y/y, which is also twice as much as expected.

Positive dynamics in the Retail Sales, which is getting better every month, brings hope that the inflation may become more active as well.

The Household Spending in December decreased a bit, by -0.1% y/y, which is worse than both previous and expected readings (+1.7% and +1.6% respectively). The Japanese population cut down expenses on education and real estate and accommodation.

RoboForex Analytical Department