On Thursday, USDJPY continues falling being under “bearish” pressure.
The Japanese Yen is looking much stronger against the USD. The current quote for the instrument is 106.64.
The statistics from Japan published today showed that the Retail Sales lost 4.6% y/y in March, the same as expected, after adding 1.6% y/y in February. The preliminary report on the Industrial Production showed -3.7% m/m, although it was expected to lose 5.0% m/m.
The Consumer Confidence went from 30.9 points in March to 21.6 points in April; market expectations implied 27.8 points.
The Housing Starts in Japan in April was -7.6 y/y against the expected decline by 16.1% y/y. In the previous month, the indicator plummeted by 12.3% y/y.
All reports, both March and April, are a perfect description of the decline of business processes and consumption in Japan. And this decline continues no matter how significant supporting measures taken by the Bank of Japan and the Japanese government are. It’s almost impossible to fight the external influence because the Japanese economy is heavily reliant on the export. Consequently, only time may help.