This morning’s flurry of economic reports out of Japan depicted a country on a stable, yet shaky path to recovery. Inflationary targets in the country’s PMI and CPI were largely met with the exception of the National Core CPI which fell 0.1% short of target forecasts. Housing data also revealed increases in housing starts, but a decline in household spending.
The mixed reports were largely positive for the Japanese economy. Traders are still seeking safe-havens as global concerns over debt have yet to subside. The Japanese yen (JPY) remains a mainstay among investors with sizeable safe-haven hedges within their portfolio. The solid economic reports, though not shining too bright, will likely help the yen continue to make gains early next week.
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