FXStreet (Edinburgh) – Senior Analyst at Danske Bank Flemming Nielsen assessed today’s key releases in the Japanese docket.
Key Quotes
“In Japan the flood of economic data released for April overnight was on balance better than expected”.
“CPI excl. fresh food and the impact from the consumption tax hike in April last year improved slightly to 0.3% y/y from 0.2% y/y in March”.
“Industrial production rebounded 1.0% m/m after contracting 0.8% m/m in the previous month”.
“Finally, the labour market report for April was stronger than expected with the unemployment rate declining to 3.3% – its lowest level since 1997”.
“For Bank of Japan today’s data suggest that the economy is moving in the right direction and it is unlikely to add more stimulus in the coming months”.
(Market News Provided by FXstreet)