Forex Trading News – Japan’s Retail Trade Data

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Retail Trade data for March revealed a lower than expected rate, a fall in the data was expected due to the turmoil in the markets from the massive quake and the nuclear crisis in Japan. The poll was for -5.6%, but the economic indicator came out at -8.5%, the Large Retailer’s Sales data for the same month completed the depressing image of the Japanese Retail data for March as the forecast was for -4.7% and was released at -7.7%. Despite the negative news, the US Dollar did not manage to appreciate against the Japanese Yen, continuing to fall further down. Upon the announcement of the news the USDJPY pair gained some 12 pips to climb to 81.45. Nevertheless it did not last for long as the pair quickly slipped by some 15 pips to 81.30. Currently the US Dollar is trading against the Yen at 81.38. The Japanese Ministry of Economy Trade and Industry is responsible to release the Retail Trade data every month, usually high readings are concerned as positive for the Japanese Yen.