The Japanese yen is showing little movement on Thursday, as USD/JPY trades in the mid-115 range. On the release front, Japanese Core Machinery Orders posted a strong gain of 2.9%. In the US, Unemployment Claims rose to 290 thousand. Later in the day, Fed Chair Janet Yellen will speak at a conference in Washington hosted by the ECB and Federal Reserve.
US Unemployment Claims has looked solid in recent readings, but the key indicator jumped to 290 thousand, missing the estimate of 282 thousand. This marked a seven-week high for the key indicator. USD/JPY shrugged off the weak reading and continues to show little movement. On Friday, we’ll get a look at US retail and consumer confidence numbers, so we could see some movement from USD/JPY.
Japanese manufacturing data has looked sharp this week. Core Machinery Orders gained 2.7%, crushing the estimate of -1.0%. Revised Industrial Production posted a gain of 2.9%, bouncing back after a decline of -1.9%. The estimate stood at 2.7%. Earlier in the week, Tertiary Industry Activity gained 1.0%, its best showing since April.
USD/JPY 115.54 H: 115.87 L: 115.31
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