Monday, May 23, 2016

Forex - Yen moves higher after Japan trade data

© Reuters. Yen gains ground after Japan trade data© Reuters. Yen gains ground after Japan trade data

Investing.com - The yen rose against the dollar on Monday after data showing that in April as exports fell at the fastest rate in three months.

was down 0.4% at 109.67, backing off the three-week highs of 110.58 set on Friday.

Data on Monday showed that for April came in at ¥823.5 billion, far above forecasts for ¥493 billion.

declined 10.1% on a year-over-year basis, while fell 23.3%, pointing to weakening domestic demand.

A separate report showed that contracted at the fastest pace in over three years in May as new orders fell.

The downbeat data added to pressure on the Bank of Japan to step up measures to spur growth.

The reports came after a meeting of the G7 ended on Saturday with t to weaken the yen.

The , which measures the greenback's strength against a trade-weighted basket of six major currencies, eased to 95.13, still not far from Thursday's two-month highs of 95.51.

Demand for the dollar continued to be underpinned after last week's Federal Reserve April meeting minutes revived expectations for higher interest rates.

Officials said a June rate hike would be appropriate if economic data indicated that growth was picking up in the second quarter and employment and inflation were firming.

The U.S. central bank hiked rates in December for the first time in almost a decade.

The euro was little changed, with at 1.1231, holding above Thursday's two-month lows of 1.1179.

In the euro zone, data on Monday showed that grew at the fastest pace in seven months in May, easing concerns over the economic outlook of the euro zone's second largest economy.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


SourceMusic MP3 Free

Forex - Yen moves higher after Japan trade data Rating: 4.5 Posted by: Unknown

0 comments:

Post a Comment

Blog Archive