Tokyo’s Core CPI Beats Expectations, USD/JPY Still Trading Bullish Over Trade Deal Sentiment - Forex News by FX Leaders
USD/JPY - US dollar vs. Japanese yen

Tokyo’s Core CPI Beats Expectations, USD/JPY Still Trading Bullish Over Trade Deal Sentiment

Posted Friday, December 27, 2019 by
Arslan Butt • 1 min read

According to government data, core consumer prices in Tokyo rose 0.8% higher YoY in December. The figure came in better than the economists’ forecast, which was for an increase of 0.6% for the period.

Meanwhile, the Japanese yen continues to trade bearish against the US dollar as markets look forward to the signing of the phase one trade deal between the US and China. US Trade Representative Robert Lighthizer had previously raised the possibility of the deal being signed as soon as in early January.

Amid lack of volatility in the holiday season, the risk-on sentiment over trade deal optimism continues to dominate trends in the forex market, diminishing the safe haven appeal of the Japanese yen. At the time of writing, USD/JPY is trading at around 109.48.

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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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