The Yen is reaching stability after yesterday’s fluctuations. Overview for 23.02.2018
On Friday morning, USDJPY is trying to reach stability after a pretty volatile trading session on Thursday.
The Japanese Yen is trading to the downside against the USD on Friday morning. The current quote for the instrument is 106.96.
This morning, Japan published several new macroeconomic reports. The first one, the Core Inflation Rate, remained at 0.9% y/y in January, the same as in December. Expectations were opposite, decrease up to 0.8% y/y.
The National Core CPI, in its turn, increased up to 1.4% y/y, which is better than both previous and expected readings.
The components of these reports show that the major growth in Japanese CPI is still provided by transport, education, food, fuel, and medical care. On the other hand, housing, furniture, and household utensils are reducing.
The Services Producer Price Index (SPPI) in Japan was just 0.7% y/y in January, which is weaker than both previous and expected readings of 0.8% y/y each. The components of the report indicate that only advertising services are still improving, while financial and transport ones are moving in the opposite direction.
RoboForex Analytical Department
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