The USD/JOPY pair is trading a bit upwards on Tuesday; investors are still very inactive.
On Tuesday morning, the Japanese yen is retreating a little bit against the USD. The current quote for the instrument is 113.28.
In the morning, Japan published several reports to shake a bit the Christmas “dead calm” on the currency market. The Unemployment Rate in the country improved in November up to 2.7% after being 2.8% the month before. By the way, the indicator wasn’t expected to change.
The Core Inflation Rate increased up to 0.9% y/y in December. The expected reading was 0.8% y/y, the same as the previous one. The Tokyo Core CPI, which is considered as a leading indicator, expanded up to 0.8% y/y in December after being 0.6% y/y he month before.
The Household Spending, which is another problem for Japanese central bank, skyrocketed by 1.7% y/y in November after changing by 0 in the previous month. Investors expected it to expand by 0.6% y/y, but the real number was much higher.
The BoJ Monetary Policy Meeting Minutes says that the QE program doesn’t need any expansions, although everyone admits that the program is necessary and it produces the required effect. The QE program parameters are estimated as appropriate and most of the regulator’s representatives agree that it should continue.
RoboForex Analytical Department