Intra-Day Market Moving News and Views
30 Jan 2015 01:33GMT
USD/JPY - ..... Reuters reported earlier Japan's core consumer inflation slowed for a 5th straight month in December hit by collapsing oil prices, keeping the central bank under pressure to meet its ambitious 2% inflation target.
But factory output rose 1.0% in December helped by a much-awaited rebound in exports n manufacturers expect to increase production in January, boding well for an economy emerging from recession.
The pick-up in output backs up the BoJ's argument that a solid economic recovery will help accelerate inflation toward its target early next year, although oil price falls will continue to weigh on inflation in the short run.
The gov't raised its assessment on output to say it is "picking up moderately." In the previous month, it said output was flat.
Japan's economy slipped into recession in the 3rd quarter of last year as exports failed to pick up n last Apr's sales tax hike cooled consumer spending.
Analysts expect the economy to have expanded an annualised 3.2% in Oct-Dec as the tax-hike pain subsides, a Reuters poll showed.
In a sign the recovery will be fragile, however, household spending fell 3.4% in the year to December, separate data showed on Friday, more than a median market forecast.
Yesterday despite dlr's brief bounce from 117.88 to 117.16 in NY morning after the release of lower-than-expected U.S. jobless claims, selling interest below European high of 117.18 capped such gain there n price later retreated to 117.83.
The U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending January 24 decreased by 43K to a seasonally adjusted 265K from the previous week's total of 308K. Market had expected U.S. initial jobless claims to decline by 8K to 300K last week.
Friday will see the release of Japan's Unemployment Rate, All Household Spending, CPI, Industrial output, Construction orders, Housing Starts, Australia's PPI, France's Producer Prices, KOF indicator, Italy's Unemployment Rate, Producer Prices, U.K.'s Gfk Consumer Confidence, Mortgage Approvals, euro zone's Unemployment Rate, Inflation ex Food & Energy, Canada's GDP, U.S. PCE, Chicago PMI, University of Michigan Sentiment.
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