USD/JPY rebounds from 3-year low

2019-09-12 09:59:28 GMT (Economies.com)
USD/JPY rebounds from 3-year low

US dollar rose against Japanese yen in the asian market today, rebounding from its lowest level since November 9th, 2016, while rising to the highest since the first of August, when it tested the highest since last May, after the release of major Japanese economic data and ahead of key data releases by the US economy.

 

As of 6:14 GMT, USD/JPY rose by 0.17% to 108.00, from the opening of 107.82, after hitting a 6-week high at 108.17, with a low of 107.78.

 

The Japanese economy released today its monthly reading for the PPI which contracted by 0.3% vs 0% in July and lower than forecasts of 0.2%, while the annual reading showed a contraction to 0.9% vs 0.6% in July and also lower than forecasts of 0.8%.

 

The machinery orders index fell by 6.6% vs a rise by 13.9% in july beating forecasts of a drop by 9.0%, the annual reading showed that growth has slowed down by 0.3% to 12.5% beating forecast of 3.7%, While the Tertiary industry activity index rose by 0.1% vs a fall by 0.1% in june beating forecast of drop by 0.3%.

 

Otherwise, the markets are anticipating today the release of the US CPI reading, with forecasts a rise by 0.1% vs 0.3% in July, with the core reading, which may fall by 0.2% vs. 0.3%, while the annual reading of the same index may grow by 1.8%, and the annual core reading is expected to rise by 2.3% vs. 2.2%.

 

In addition to the unemployment claims index, which is expected to fall by 2 thousands orders to 215 thousands vs 217 thousands, while investors claims index is expected to rise by 13 thousands to 1,675 thousands vs. 1,662 thousands.

 
 
 
  Symbol Last Change Chg.%
1.1020
0.0000
0.0045%
1.2472
0.0003
0.0236%
17.964
0.513
2.940%
58.477
3.583
6.527%
64.28
-0.12
0.19%
1516.410
27.430
1.842%
 
 
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