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

According to government data, core consumer prices in Tokyo rose 0.8% higher YoY in December. The figure came in better than the forecast..

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

• Last updated: Friday, December 27, 2019

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 See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

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.