Article By RoboForex.com
The USD/JPY pair is falling on Wednesday morning as the market is processing the weak GDP report.
On Wednesday, the Japanese Yen is slowly growing against the USD. The current quote for the instrument is 113.70. The pair has been moving in the range between 113.60 and 114.80 more than a week.
This morning, Japan published the Final GDP report in the country in the fourth quarter 2016. The indicator expanded by 0.3% q/q against expectation of 0.4% q/q and the preliminary reading of 0.2% q/q. On YoY, the Japanese GDP added 1.2%, although it was expected to increase by 1.6%.
It’s quite interesting that the report components show the increase of the business spending (2.0% against 0.9%), but the private consumption isn’t growing as fast as the Japanese authorities want it to.
The Japanese GDP readings are positive for the fourth quarter in a row, i.e the entire year of 2016, which is the longest streak over the last 3 and half years. Rather, the question is how much it costs to the Japanese government.
Free Reports:
The Leading Economic Index in Japan in January increased up to 105.5 points after being 104.8 points the month before and against expectations of 105.4 points. By the way, the December reading was the highest since the summer of 2015, and today’s number is even better. The indicator shows the economic activity in the country in the future. The bigger the number, the better for the Japanese Yen.
RoboForex Analytical Department
Article By RoboForex.com
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