On Monday, USDJPY is moving downwards in response to the Japanese GDP numbers.
The Japanese Yen is growing against the USD at the beginning of another September week. The current quote for the instrument is 111.00.
In the morning, Japan reported on final numbers of the country’s GDP in the second quarter. The indicator added 0.7% q/q, which is the same as expected. The previous estimation was 0.5% q/q. On YoY, the GDP added 3.0%. In the first quarter, the indicator lost 0.2% q/q (-0.9% y/y).
This is a great result for the economy, which continues fighting the deflation and driving the consumption among the country’s population. The components of the report show that the GDP Private Consumption added 0.7% q/q in the second quarter, thus continuing the momentum started earlier this year. However, at the same time, the GDP Capital Expenditure also increase (+3.1% q/q after 1.3% q/q before).
This week, Japan is scheduled to publish several interesting reports, such as the Preliminary Machine Tool Orders (August) on Tuesday, the PPI (August) on Thursday, and the Revised Industrial Production (July) on Friday.
Another factor that may influence the Yen in the next several days is the continuation of “trade wars” between the USA and China. Last Friday, the US President Donald Trump said that the White House was ready to double the import duties volume for Chinese goods, which meant that almost all goods from this country might find themselves under “sanctions”. In this case, investors might need “safe haven” assets, thus making the Yen getting stronger slowly.
Orgin: RoboForex
