Japan’s government downgrades its view on the economy in February
Source Fxstreet
The Japanese Cabinet Office said in its report on Wednesday, the government downgraded its view on the economy in February, marking the first downgrade since November 2023.
Key takeaways
Economy is recovering moderately though it appears to be stalling recently.
Japan slashes view on consumer spending for first time since February 2022, says recovery is stalling.
Japan downgrades view on industrial production for first time since March 2023.
Japan says industrial production hurt by suspension of some auto production, shipments.
Market reaction
The Japanese Yen keeps the offered tone intact against the US Dollar following the above report. At the time of writing, the USD/JPY pair is trading around 150.10, up 0.06% on the day.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold price (XAU/USD) rebounds from a nearly one-month low to around $4,385 during the early Asian session on Thursday. The precious metal edges higher as the US Dollar (USD) and Treasury yields retreat from recent highs.
Japanese Yen rallies to February 18 high as upbeat wage data and GDP lift BoJ hike betsThe USD/JPY pair declines for the second straight day – also marking the fourth day of a fall in the previous five – and sinks to its lowest level since February 18, around mid-153.00s during the Asian session on Tuesday.
The USD/JPY pair declines for the second straight day – also marking the fourth day of a fall in the previous five – and sinks to its lowest level since February 18, around mid-153.00s during the Asian session on Tuesday.
Gold slumps to near $4,350 amid oil-driven inflation fears, US inflation data in focusGold price (XAU/USD) falls to near $4,350 during the early Asian session on Wednesday. The precious metal faces some selling pressure as rising oil prices fueled inflation concerns and boosted expectations for a rate hike by the Federal Reserve (Fed) in September.
Gold price (XAU/USD) falls to near $4,350 during the early Asian session on Wednesday. The precious metal faces some selling pressure as rising oil prices fueled inflation concerns and boosted expectations for a rate hike by the Federal Reserve (Fed) in September.
US dollar clings to nine-week lows near 98.4 as Brent nears $100 and the yen hits a seven-month high — five events to watch todayThe dollar is pinned near nine-week lows even after a blockbuster jobs report, as an oil spike toward $100, a surging yen and China's reflation data crowd the driver's seat. Five key events to watch today: Brent at $99.46, USD/JPY at 154, China CPI/PPI, PBOC gold buying, and Thursday's PPI / Friday's CPI ahead of the September 15-16 FOMC.
The dollar is pinned near nine-week lows even after a blockbuster jobs report, as an oil spike toward $100, a surging yen and China's reflation data crowd the driver's seat. Five key events to watch today: Brent at $99.46, USD/JPY at 154, China CPI/PPI, PBOC gold buying, and Thursday's PPI / Friday's CPI ahead of the September 15-16 FOMC.
Brent holds above $100 as tanker attacks tighten supply — but four forces are capping the rallyBrent crude is holding above $100 a barrel for a second session, its first close above the level since late July, as tanker attacks near the Strait of Hormuz squeeze an already tight physical market. Yet the rally has been gradual: 8.3 mb/d of Gulf output is still shut in, diesel is at a record, and forecasts now range from $74 to $100.
Brent crude is holding above $100 a barrel for a second session, its first close above the level since late July, as tanker attacks near the Strait of Hormuz squeeze an already tight physical market. Yet the rally has been gradual: 8.3 mb/d of Gulf output is still shut in, diesel is at a record, and forecasts now range from $74 to $100.
Related Instrument
