The Yen is not ready to rest. Overview for 30.04.2020
On Thursday, USDJPY continues falling being under “bearish” pressure.
The Japanese Yen is looking much stronger against the USD. The current quote for the instrument is 106.64.
The statistics from Japan published today showed that the Retail Sales lost 4.6% y/y in March, the same as expected, after adding 1.6% y/y in February. The preliminary report on the Industrial Production showed -3.7% m/m, although it was expected to lose 5.0% m/m.
The Consumer Confidence went from 30.9 points in March to 21.6 points in April; market expectations implied 27.8 points.
The Housing Starts in Japan in April was -7.6 y/y against the expected decline by 16.1% y/y. In the previous month, the indicator plummeted by 12.3% y/y.
All reports, both March and April, are a perfect description of the decline of business processes and consumption in Japan. And this decline continues no matter how significant supporting measures taken by the Bank of Japan and the Japanese government are. It’s almost impossible to fight the external influence because the Japanese economy is heavily reliant on the export. Consequently, only time may help.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.