© Reuters. Yen hold stronger ahead of BoJ Investing.com – The yen held stronger Friday ahead of a central bank review on rates and subsequent outlook for the economy.
traded at 120.93, down 0.17%, after the household data and consumer prices and unemployment. changed hands at 0.7099, up 0.36%.
In Japan, September household spending plunged 1.3% month-on-month, well below the 0.3% gain seen, national core CPI eased 0.1%, less than the 0.2% drop expected, and unemployment stayed steady at 3.4% as expected.
Consumer spending remains lackluster despite a gradual pickup in nominal wages and possibly due to the uncertainty over global growth and stock markets.
Investors are now looking at the Bank of Japan one-day policy meeting on Friday as industrial output shows signs of life even as the central bank is expected to revise down growth and inflation forecasts in its semi-annual Outlook Report due the same day.
Expectations of further eased have ebbed and waned for another round of aggressive monetary easing to boost prices more than two years into a massive stimulus program of ¥80 trillion.
In Australia comes housing credit for September rose 0.8%, a faster pace that the 0.5% gain in August, while housing credit was up 0.6%, unchanged from the previous month. Producer prices gained 0.9% in the third quarter.
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.08% to 97.29.
Overnight, the dollar pushed lower against the other major currencies on Thursday, after the release of disappointing U.S. data dampened optimism over the strength of the economy.
The U.S. National Association of Realtors said its pending home sales index dropped 2.3% last month, disappointing expectations for a gain of 1.0%. Pending home sales in August fell by 1.4%, whose figure was revised from a previously reported drop of 1.4%.
The data came after the Commerce Department said U.S. gross domestic product grew at an annual rate of 1.5% in the three months to September, missing expectations for growth of 1.6%. The U.S. economy grew 3.9% in the previous quarter.
Separately, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 24 increased by 1,000 to 260,000 from the previous week’s total of 259,000. Analysts had expected jobless claims to rise by 4,000 to 263,000.
The dollar had strengthened broadly after Wednesday’s Federal Reserve statement said that officials might make a decision to raise interest rates at their December meeting.
The central bank kept rates on hold at its September meeting amid fears that a China-led slowdown in global growth could affect the U.S. economy.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Foreign exchange - Yen stronger with Financial institution of Japan assessment forward
No comments:
Post a Comment