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JPY

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%

Japan’s Industrial Production

Better than expected Industrial Production for January from Japan have given the risk pairs a bid here ahead of the Nikkei open.

  • Industrial Production (MoM) – Survey:1.5%    Actual:2.0%   Prior:3.8%
  • Industrial Production (YoY) – Survey:-1.6%    Actual:-1.2%  

Japan’s January Retail Sales

Retail Sales improved in Japan in January as we see the USDJPY pair trade in the middle of the 80 handle as we’ve seen the USD weaken a touch  across the board to start the new day.

  • Retail Trade (MoM) sa – Survey:1.0%   Actual:4.1%   Prior:0.3%
  • Retail Trade YoY – Survey:-0.1%   Actual:1.9%   Prior:2.5%
  • Large Retailers’ Sales – Survey:-1.1%   Actual:-1.0%   Prior:-0.4%

Japan’s Trade Balance

Japan’s January Trade Balance posted the largest deficit in over 20yrs at -1475B, close to estimates. The Yen pushed back off its worst levels since August. The initial bid in USDJPY to open the week was due to “progress” on the Greek aid package and China easing policy through reserve ratio’s.

BOJ Keeps Rates Unchanged @ 0.1%

  • Credit Loan program unchanged at 35T.
  • Asset Purchase fund expanded to 30T, to ensure recovery.

Japans Q4 GDP Estimate

Japan’s 4th quarter GDP numbers came in even softer than surveyed, while activity picked up in December based on the Tertiary Industry Index reading improving more than expected.

  • GDP Deflator – Survey:-1.7%   Actual:-1.6%   Prior:-2.2%
  • Nominal GDP (QoQ) – Survey:-0.7%   Actual:-0.8%   Prior:1.2%
  • GDP Annualized – Survey:-1.3%   Actual:-2.3%   Prior:5.6%
  • GDP- Survey:-0.3%  Actual:-0.6%   Prior:1.4%
  • Tertiary Industry Index – Survey:0.8%   Actual:1.4%   Prior:-0.8%
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