Market Updates: Tokyo CPI Rise Accelerates; BOJ Cautious - Forex News by Strategia Forex

Market Updates: Tokyo CPI Rise Accelerates; BOJ Cautious

Posted Friday, January 25, 2019 by
Arslan Butt • 1 min read

The pace of the annual inflation rate in Tokyo, a leading indicator of the national average, expedited in January from the prior month, but the Bank of Japan’s cautious view on price outlook continues.

The Tokyo core CPI grew 1.1% on year in January, expediting from a 0.9% rise in December.

Fellas, it can be a misleading indicator as the rise can be due to a rise in crude oil prices (+0.40 percentage points in Jan. vs. +0.38 pts in Dec). The pick-up in inflation remains dull, compared with the economic recovery and the labor market tightening.

USD/JPY hasn’t shown any reaction to this news and continues to trade around $109.800.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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