Analysis USD/JPY. Sudden surge in the Yen

uasd-jpyOn Friday morning, USDJPY is plunging; numbers from Japan set the pace.

The Japanese Yen is getting stronger against the USD at the end of the week in response to the numbers published earlier in the morning. The current quote for the instrument is 108.93.

The statistics were rather mixed and showed obvious signals that the country’s economy might really suffer from global trade wars and export decrease. However, some of them were positive and investors preferred to focus on them.

First of all, Japan reported on the Unemployment Rate in April, which went from 2.5% to 2.4%. Secondly, the Retail Sales, which added only 0.5% y/y against the expected reading of +1.0% y/y. The preliminary April report on the Industrial Production showed +0.6% m/m after -0.6% m/m in the previous month.

Another thing worth paying attention to is the Consumer Confidence for May: the indicator reduced to 39.4 points after being 40.0 points in April. This decline means that the country’s population is aware of the economy slowdown due to trade wars. And the last, but not the least – the Housing Starts, which lost 5.7% y/y after adding 10.0% y/y the month before.

Orgin: RoboForex

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