Tokyo inflation and a BoJ rate decision come next for a flat Yen
US growth beat its forecast, and the Dollar is still lower against the Yen after results from Amazon (AMZN) and Intel (INTC) disappointed. USD/JPY reached its session high just above 158.00 around the European Central Bank's (ECB) decision.
Tokyo's Consumer Price Index (CPI) excluding fresh food and energy rose 2.6% year-over-year in October, as forecasted, while headline inflation increased to 2.8%. Core inflation, which excludes volatile food and fuel prices, slowed to 2.6% from 3%. The mixed inflation data adds to the argument for a Bank of Japan (BoJ) rate hike, narrowing the USD/JPY rate gap, while the cooling of inflation takes away from it.
Jobless rate in Japan fell to 2.4% in September, and employers had 1.19 jobs on offer per applicant, up from 1.18. The Bank of Japan's decision on monetary policy is scheduled for Friday at 03:00 GMT, with its quarterly Outlook Report following at 06:30 GMT. The US Employment Cost Index for the third quarter and the Chicago Purchasing Managers Index are due at 12:30 GMT and 13:45 GMT, respectively, affecting the Federal Reserve's December decision. USD/JPY has seen a slight recovery in the session's range of 157.50-158.00.
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Also reported by 3 other outlets
- Breaking: Japan’s Tokyo CPI inflation climbs 2.8% in October fxstreet.com
- Tokyo inflation exceeds BOJ’s 2% target before rate decision japantimes.co.jp
- Tokyo core inflation exceeds BOJ target in October channelnewsasia.com
