Forex Trading News – A series of negative Japanese economic data

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The Domestic Corporate Goods Price Index and the Tertiary Industry Index were released today, both negatively rejecting the expectations. Despite that the news was rather negative the Japanese Yen has appreciated instantly. The month over month Corporate Goods Index came out at -0.1% defying the forecasts of 0.1%, the rate for April was 0.9%. The year over year Index was again below the expectations, as the rate for May was released at 2.2% and the expectation was for 2.5%, the previous reading was at 2.5%. The Tertiary Industry Index which is released by the Ministry of Economy, Trade and Industry came out slightly below the forecast of 2.7% at 2.6%, the rate for April was at -5.9%. Though the data was not very pleasant for the Japanese economy, the US Dollar slipped against the Japanese Yen by some 10 pips touching 80.29, currently the pair is moving north on the charts as it is trading at 80.35, showing that is on mood for further recovery.