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Market Updates: BOJ Core CPI Surges by 0.5%

The Japanese Yen spiked around 30 pips against the US dollar on the release of Inflation data. For the new members, the Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate. But the existing data represents Core CPI and shows a change in the price of goods and services purchased by consumers, excluding food and energy.

Food and energy prices account for about a quarter of the CPI, but they tend to be very volatile and distort the underlying trend. The BOJ usually pays more attention to the Core data – and so do traders. As per the report released by the Bank of Japan, the consumer price index increased by 0.5%, exactly in line with the economists’ forecast. USD/JPY has given up the earlier gains after the news as the pair has managed to bounce off 111.650 level to trade at 111.850. 




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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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