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
Microstrategy outperforms Warren Buffet’s Berkshire Hathaway by the largest margin since the dot-com bubbleMichael Saylor’s Microstrategy is outperforming Warren Buffet’s Berkshire Hathaway by the largest margin. The software company has surged by 2,295.74% since August, when it first bought its Bitcoin holdings, while Berkshire Hathaway has surged by 36.02% in the same duration.
Michael Saylor’s Microstrategy is outperforming Warren Buffet’s Berkshire Hathaway by the largest margin. The software company has surged by 2,295.74% since August, when it first bought its Bitcoin holdings, while Berkshire Hathaway has surged by 36.02% in the same duration.
Prominent crypto analyst Burak Kesmeci has tipped Bitcoin (BTC) to hit a price target of $124,000 based on data from the Golden Ratio Multiplier price model.
Silver price (XAG/USD) following its six-day winning streak, trading around $40.98 per troy ounce on Wednesday, the highest since September 2011.
The Japanese Yen (JPY) strengthened against its American counterpart during the Asian session on Friday in response to upbeat domestic data.
Gold gains momentum above $4,100 after weak US NFP data Gold price (XAU/USD) gains traction to around $4,125 during the early Asian session on Friday. The precious metal extends the rally after weaker-than-expected US Nonfarm Payrolls (NFP) data reduced expectations of Federal Reserve (Fed) interest rate hikes this year.
Gold price (XAU/USD) gains traction to around $4,125 during the early Asian session on Friday. The precious metal extends the rally after weaker-than-expected US Nonfarm Payrolls (NFP) data reduced expectations of Federal Reserve (Fed) interest rate hikes this year.
Related Instrument
