The Yen is growing a bit. Overview for 11.04.2018

In the middle of the week, USDJPY is trading upwards; investors’ interest in the Yen wais revived.

The Japanese Yen is getting more expensive against the USD on Wednesday. The current quote for the instrument is 107.03.

Today’s statistics from Japan weren’t too optimistic, but investors paid more attention to some blurry forecasts and wild guesses than actual numbers, like they always do when expecting something. The PPI increased up to 2.1% y/y in March, the same as expected, although in the previous month it was 2.6% y/y.

The Bank Lending decreased up to 2.0% y/y after being 2.1% y/y in February.

The Core Machinery Orders added 2.1% m/m in February after skyrocketing by 8.2% m/m in the previous month. The actual number is quite good, because the indicator was expected to lose 2.6% m/m. Over the last couple of months, the indicator has been positive and may be taken as some kind of leading indicator: both the industrial production and the retail sales may increase steadily following the economic sentiment improvement.

In general, the Yen moved away from short-term highs against the USD, although the tendency may reverse any moment taking into account the USD weakness on the global currency market.

RoboMarkets Analytical Department