Morning Market Update – Japan’s Yen weakens

Asian Markets

Yen had some key releases today which didn’t meet the expectations. Japanese Industrial Production (MoM) was registered at -3.3% and went down below expectations with a value of -3.2%. However, the Japanese Industrial Production (YoY) met the expectations with a value of 6.8%.

Japan Tokyo CPI ex Food, Energy (YoY) was registered at -0.2% and went down below the forecasts with a value of 0.1%. Japan National CPI Ex Food, Energy (YoY) went down below expectations with a value of 0.1% when compared to the Actual value of 0%.

Japan Tokyo CPI ex Fresh Food (YoY) was registered at 0% and went down below the forecasts of 0.2%. Japan Jobs/applicants ratio went above the forecasts with a value of 1.48 when compared to the Actual value of 1.49. Japan Tokyo Consumer Price Index (YoY) was registered at 0% and went down below expectations with a value of 0.3%. Japan Overall Household Spending (YoY) came in at -0.1% and went above forecasts with a value of -0.6%. Japan Unemployment Rate went above expectations with a value of 2.8% when compared to the Actual value of 3.1%.

Other Markets

Moving on for the day, we have France’s Consumer Price Index (EU norm) with a slight dip from a previous value of 0.9% and forecasted value of 0.8%. Switzerland seems to be doing pretty good with the KOF Leading Indicator forecasted at 102.4 than the previous release which was seen at 101.6. Germany’s Unemployment Change is foreseen at a negative 10K. Euro’s Consumer Price Index (YoY) is seen at a negative 1.2% when compared to the previous release at 1.4%.

The Canadian dollar dropped down with the Gross Domestic Product forecasted at 0.2% against a previous value of 0.5%. Late in the day, we must watch out for Bank of Canada’s (BoC) Business Outlook Survey.

Greenback has some major releases in the day with the Personal Spending seen at a negative 0.1% when compared to the previous value of 0.4%. The Personal Income posted a slight dip with 0.3% against a previous value of 0.4%. The Core Personal Consumption Expenditure – Price Index (MoM) came in at 0.1% when compared to the previous value of 0.2% and Personal Consumption Expenditures – Price Index (YoY) was registered at 1.5% when compared to the previous value of 1.75%. Michigan Consumer Sentiment Index seems to hold the levels at 94.5. With Chicago’s Purchasing Managers Index declining at 58 against a previous value of 59.4, we shall look to mostly stay away from the greenback for now.
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