The Yen is not in demand. Overview for 01.10.2019
On Tuesday, USDJPY continues growing; market sentiments are in favor of the USD.
The Japanese Yen continues retreating against the USD on Tuesday morning. The current quote for the instrument is 108.25.
In the morning, Japan published a lot of numbers. For example, the Unemployment Rate for August, which remained unchanged at 2.2%, although market expectations were 2.3%. The Japanese labor market finds it difficult to improve, because of the rather bleak economic outlook.
The Tankan Manufacturing Index dropped to 5 points in the third quarter after being 7 points the quarter before. However, the actual reading is still better than expectations of 1 point. The Tankan Non-Manufacturing Index reduced to 21 points after being 23 points in the previous quarter.
Indicators from Tankan are quite objective, they describe activities of more than 8,000 companies and enterprises, that’s why the showed decline is an objective assessment of what is happening in the country’s economy.
According to the final report, the official Manufacturing PMI couldn’t reach the expected reading and remained unchanged at 48.9 points.
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.
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