Yenul japonez este în derivă după alunecări ale PIB-ului

The Japanese yen has started the week with a whimper. USD/JPY is currently trading at 113.88, up 0.10% on the day.

Japan’s GDP underperforms

Japan’s economy performed poorly in the third quarter. GDP contracted by 3.0% y/y, much worse than the consensus of -0.7%. The health restrictions imposed due to Covid were the primary driver of the weak GDP reading. The slump in economic activity was exacerbated by supply-chain problems which have led to shortages of chips and other products. Investors took the negative news in stride, as the yen is flat on Monday. The markets have seen health restrictions come and go and are paying more attention to the new fiscal package that the Kishida government will unveil at the end of the week.

Kishida is planning to introduce stimulus measures to boost the economy and can point to negative growth in Q3 as justification for providing a stimulus package in order to kick-start the economy. The Nikkei newspaper reported on Friday that the package would exceed USD 350 billion. The government is hoping that the stimulus will boost business and consumer sentiment and encourage greater investment and spending.

In the US, it’s a completely different story as inflation is surging and the economy is expanding. The job numbers point to many unfilled openings as the demand for workers continues to outstrip supply. JOLT job openings remained high in September at 10.44 million, lower than the August read of 10.62 million but above the consensus of 10.30 million.

In addition to high inflation, inflation expectations have hit multi-year levels, climbing to 4.9% in October. Inflation expectations can translate into actual inflation, so the Fed will have to keep a close eye on this indicator.

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USD / JPY Tehnic

• Există rezistență la 114.58. Mai sus, există rezistență la 115.22
•  Există suport la 112.08, urmat de suport la 113.01

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Analist al pieței financiare cu o mare experiență, cu accent pe analiza fundamentală, comentariul zilnic al lui Kenneth Fisher acoperă o gamă largă de piețe, inclusiv valutare, acțiuni și mărfuri. Lucrările sale au fost publicate în mai multe publicații financiare majore online, inclusiv Investing.com, Seeking Alpha și FXStreet. Cu sediul în Israel, Kenny a contribuit cu MarketPulse din 2012.

Ultimele mesaje ale lui Kenny Fisher (vezi toate)

Source: https://www.marketpulse.com/20211115/japanese-yen-drifting-gdp-slips/