The Yen decided to retreat. Overview for 12.11.2019
On Tuesday afternoon, USDJPY is changing direction in favor of a new correction.
After strengthening for a couple of days, the Japanese Yen is falling against the USD. The current quote for the instrument is 109.27.
The Yen rarely pays attention to the statistics, because investors use it as a “safe haven” asset in times of market instability. However, there are interesting things to check here.
For example, the Core Machinery Orders lost 2.9% m/m in September. Market expectations were +0.9% m/m, but the indicator remained negative, which means that domestic demand for these goods remains under pressure – companies are still not sure that they will be able to get their expenses back.
According to the preliminary report, the Machine Tool Orders dropped to -37.4% y/y in October after being 35.5% in September.
The Bank Lending added 2.0% y/y, just as expected.
The Economy Watchers Sentiment deteriorated significantly, from 46.7 points in September to 36.7 points last month. Most likely, this decline is a result of the economic uncertainty due to trade wars, which is very important for export-oriented Japanese economy.
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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