Yen falls for fifth straight session ahead of Fed

2018-11-08 09:24:47 GMT (Economies.com)
Yen falls for fifth straight session ahead of Fed

Yen declined against the greenback in Asian trade to near month lows, following earlier trade and industrial data from Japan and ahead of the Federal Reserve's policy decisions. 

 

As of 05:38 GMT, USD/JPY rose 0.17% to 113.71, with an intraday high at 113.74, and a low at 113.48. 

 

Earlier Japanese data showed the trade surplus shrank to 1.82 trillion ye, from 1.84 trillion in August, besting estimates of 1.79 trillion, while the seasonally adjusted reading showed a surplus of 1.33 trillion, down from 1.43 trillion, and missing estimates of 1.36 trillion. 

 

Machinery orders tumbled 18.3% m/m in September, compared to a 6.8% increase in August, while analysts expected a 9.0% decline, as orders fell 7% y/y, missing estimates of a 7.7% increase. 

 

Now investors await US unemployment claims data for the week ending November 3, expected with no change at 214 thousand, while continuing claims for the week ending October 27 are estimated with a 4 thousand increase to 1.635 million. . 

 

The Federal Open Market Committee is also wrapping up its policy meeting today, with analysts expecting no change in overnight interest rates at below 2.25% after increasing them by 25 basis points for the third time this year at the last meeting. 

 
 
 
  Symbol Last Change Chg.%
1.1339
0.0011
0.0962%
1.3020
0.0100
0.7721%
14.193
0.035
0.244%
56.142
-3.700
6.183%
66.07
-0.05
0.08%
1212.530
3.060
0.253%
 
 
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