The Yen is under pressure again. Overview for 08.12.2017

The USD/JPY pair is trading upwards for the second trading session in a row; the statistics from Japan didn’t provide enough support.

The Japanese yen is weakening against the USD on Friday. The current quote for the instrument is 113.46.

Today’s statistics from Japan was quite mixed and couldn’t support the national currency. Only one repot was really positive, all others disappointed investors. So, the final estimation of the Japanese GDP in the third quarter was better than the first estimation and expectations. The country’s economy expanded by 0.6% q/q against the expected reading of +0.4% q/q. On YoY, the indicator increased by 2.5%, although it was expected to lose 1.6%.

As can be seen from the above, the Japanese economy has been gradually expanding for the seventh consecutive quarter, which is definitely good. It’s the longest streak over 16 years.

And that was all positive news. The Average Cash Earnings increased by 0.6% y/y in October after adding 0.9% y/y in the previous month. Fluctuations of this indicator may influence the consumption and other related sectors.

The Bank Lending in Japan expanded by 2.7% y/y in November after adding 2.8% y/y in the previous months and against the expected number of 2.8% y/y. This slight decline may be easily explained by a seasonal factor.

RoboForex Analytical Department