The Yen is retreating. Overview for 12.02.2019
On Tuesday afternoon, USDJPY is growing; market players believe that the risks are rather neutral so far.
The Japanese Yen is falling against the USD on Tuesday. The current quote for the instrument is 110.59.
Early in the morning, Japan reported on the Tertiary Industry Activity in December. The indicator lost 0.3% m/m after decreasing by 0.4% m/m in November and against the expected reading of -0.1% m/m. usually, this indicator is considered as the leading indicator before Tankan, because it includes approximately 60% of the entire business activity in the Japanese industry.
Apart from this, Japan reported on the Machine Tool Orders, which dropped by 18.8% y/y in January after losing 18.3% the month before.
These numbers won’t influence the Yen too much, because the key driver for the Japanese currency right now is investors’ willingness or unwillingness to risk. As long as the risks are low, the Yen will remain uninvolved in any serious activity.
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.