Major US equity indices were buoyed higher yesterday at close, sentiment in Asia was less convinced, and although the major equity indices were indeed higher the Japanese Nikkei suffered some mild declines.
Overall Japanese data released this morning showed some better than expected actual figures, and were this was not the case there was an improvement registered when compared to previous readings. Data released included Jobless data, Hosehold Spending and Retail Trade and sales.
The data helped contain the JPY’s losses but the currency remained pressured by speculation that the lack of expected performance for the Japanese economy will likely lead the BoJ to enact more easing next month. USDJPY is currently at 102.15.
The USD continues in its uptrend today as well. The US Dollar index (DXY) has registered 2 consecutive days of gains since last Friday already and is currently still in support trading at 95.72 at the time of writing. Yellen’s upbeat comments are helping the USD as the chances of a rate hike by end of year remains in the cards. Data will continue to take the limelight as speculation remains rampant on the timing of it, and as we head towards some important US Jobs data next Friday.
