Japan GDP misses expectations, -0.3% vs 0.3%, yen unnerved
Japan's Gross Domestic Product which is released by the Cabinet Office shows the following:
Japanese GDP Annualised SA (QoQ) Q3 P: -1.2% (exp 1.2%; R previous 4.6%) -GDP SA (QoQ) Q3 P: -0.3% (exp 0.3%; R previous 1.1%).
The yen is a little pressured on the day but less affected by the data directly. USDJPY trades at 140.12 and is flat on the release.
Update:
USDJPY is gaining some traction in the Tokyo open.
About Japan GDP
The Gross Domestic Product released by the Cabinet Office shows the monetary value of all the goods, services and structures produced in Japan within a given period of time. GDP is a gross measure of market activity because it indicates the pace at which the Japanese economy is growing or decreasing. A high reading or a better-than-expected number is seen as positive for the JPY, while a low reading is negative.
Author
Ross J Burland
FXStreet
Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.
