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FXDD Today

Japan’s Unemployment & Inflation Report

Unemployment came in higher than expected and is the norm the market has had no reaction to this report.

  • Jobless Rate – Survey:4.5%   Actual:4.6%   Prior:4.6%
  • Job-to-App Ratio – Survey:0.72   Actual:0.73   Prior:0.71
  • Household Spending – Survey:-0.9%   Actual:-2.3%   Prior:0.5%

Deflation persisted in January, however the  CPI came in less deflationary than expected.

  • National CPI (YoY) – Survey:-0.1%   Actual:0.1%   Prior:-0.2%
  • National CPI ex Food/Energy (YoY) – Survey:-1.1%   Actual:0.9%   Prior:-1.1%

The FXDD Morning Review

The USDJPY has continued it’s trend move higher eclipsing the 80.00 level for the first time since October 31st 2011 – the day of the BOJ intervention.

The NY Morning Review

The Peoples Bank of China signalled the intention to lower the reserve requirements banks need to hold on balances at the bank by 50 basis points over the weekend in a way to stimulate economice activity in a declining housing market and as a result of weakness expected by a slower Euro economy.  The move led to a move into risk on the Sunday night opening and that bias has remained as NY is set to open.  The dollar is down against all the major currencies.  Against the Yen the dollar has faired the best, nearly unchanged from Friday’s levels.

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