Goodmorning folks here at fxmarketleaders. I hope you´re having a great morning and hopefully have a prosperous day and week, since today is the last trading day of the week. If you are following our forex signals then your EUR/GBP sell signal from yesterday should have just hit the take profit target minutes ago and so far for the week you must be sitting in a 65 pip profit.
Anyway, who was awake last night around 11:30 PM GMT when the Japanese inflation data was released? The inflation numbers were disappointing. after all the actions that the BOJ (Bank of Japan) and the Japanese government have taken the inflation continues to stubbornly remain low. In fact, in this case, it is negative, so you can call it deflation.
Instead of moving up, the inflation in Japan continues to remain in negative territory and it´s starting to feel comfortable there. Mind you, these are the inflation numbers for the Q2 when the additional monetary and fiscal stimulus from the BOJ and Japanese PM wasn´t introduced yet. Even if it started in Q2, the additional easing steps would take some time to filter through the real economy, so in my opinion if we are to see any inflation in Japan 2017 is going to be the soonest.
Meanwhile, hang on tight because the second estimate of the UK Q2 GDP is coming up in about an hour. We´ll see in what shape the UK was just before the Brexit referendum.