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15 Jan 2015
Economic data out of Japan disappoints – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team notes that recent economic data out of Japan disappointed the markets with whole inflation falling to a 9-month low at 1.19%y/y and November’s machine orders registering a shortfall.
Key Quotes
“Economic data out of Japan remains disappointing, as shortfall in November machine orders forced the govt to cut its assessment to state the recovery is showing signs of stalling. Wholesale inflation was also underwhelming, with y/y 1.9% coming in as a 9-month low. BOJ Gov Kuroda reiterated he's prepared to adjust policy as needed to achieve 2% inflation target, adding the falloff in demand after sales tax rise is waning. USD/JPY was bit after 4 straight losing sessions, rising about 70pips from the lows to 117.80.”
Key Quotes
“Economic data out of Japan remains disappointing, as shortfall in November machine orders forced the govt to cut its assessment to state the recovery is showing signs of stalling. Wholesale inflation was also underwhelming, with y/y 1.9% coming in as a 9-month low. BOJ Gov Kuroda reiterated he's prepared to adjust policy as needed to achieve 2% inflation target, adding the falloff in demand after sales tax rise is waning. USD/JPY was bit after 4 straight losing sessions, rising about 70pips from the lows to 117.80.”