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.
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Gold (XAU/USD) trades lower for the second consecutive day on Friday, but remains contained within previous ranges, with downside attempts limited above the $4,500 line for now.
Silver price (XAG/USD) rises nearly 4% after registering losses in the previous day, trading around $78.50 per troy ounce during the Asian hours on Monday.
Here is what you need to know on Monday, May 25:
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