Economic Release Updates – Japanese Yen & Euro in Focus
The global financial markets are lacking volatility in the wake of bank holidays in the US and Canada. Yet, there have been few economic...
What’s up, traders.
As you know, the global financial markets are lacking volatility in the wake of bank holidays in the US and Canada. Yet, there have been few economic releases during the Asian session and the European session.
Here’s an update:
JPY – PPI y/y: It’s a leading indicator of consumer inflation. When corporations raise the price of their goods, the higher costs are usually passed on to the consumer. As per Bank of Japan, the Japanse Producer Price Index dropped to 2.9% vs, 3% in September, beating the analyst forecast of 2.8%. So, in a sense, it’s a mixed figure which is above forecast but below the previous growth rate.
JPY – Prelim Machine Tool Orders y/y: The data shows a change in the total value of new orders placed with machine tool manufacturers. As per the recent release, the machine tool orders fell by -1.1 vs. 2.9%, causing further weakness in the Japanese Yen.
What’s Next?
Euro – Italian Industrial Production m/m: It’s a leading indicator of economic health. Production reacts quickly to ups and downs in the business cycle and is correlated with consumer conditions such as employment levels and earnings.
The report is due at 9:00 (GMT) with a negative forecast of -0.5 vs. 1.7%. The economic event isn’t famous for driving any volatility in the market, yet we should keep an eye on it in the absence of top-tier news.
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