Demand for the Yen significantly decreased. Overview for 29.11.2019
On Friday afternoon, USDJPY continues growing but in smaller volumes.
The Japanese Yen remains weak at the end of November. The current quote for USDJPY is 109.45.
The statistics published today showed that the Unemployment Rate in Japan remained at 2.4% in October. By the way, the indicator wasn’t expected to change. One should admit that the labor market in Japan is impressively stable given the current economic climate in the country.
The preliminary report on the Industrial Production in October showed -4.2% m/m. The indicator was expected to be -2.0% m/m while showing +1.7% m/m in the previous months. However, this decline was perfectly anticipated: first of all, the government increased the sales tax, and secondly, global trade wars continue putting pressure on the industrial sector. It keeps getting worse.
The Tokyo Core CPI added 0.6% y/y in November, the same as expected, which is a bit better than the month before but still not too good. This is some kind of a leading indicator for the country’s major inflation index, that’s why it is quite prominent.
Demand for the Yen is obviously decreasing because right now investors are waiting for settlement of the US-China trade talks. The drama surely is talking too much time, but market players are very hopeful.
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