Japan households' mood hits 5-year low - BOJ survey

Dhwani Mehta FXStreet

The Bank of Japan’s (BOJ) quarterly survey of about 4,000 households showed on Thursday, Japanese households’ confidence on the economy worsened to a five-year low in the three months to December, as cited by Reuters.

Key Findings:

A diffusion index measuring households’ confidence on the economy stood at minus 29.8 in December, the worst reading since the corresponding month of 2014.

32.9% of respondents cut back on spending after a sales tax hike rolled out in October.

Meanwhile, the bullish bias around the USD/JPY pair remains unabated, as it sees a fresh leg higher in early European trades. At the press time, the spot hits fresh eight-day highs at 109.32, trading above all major daily Simple Moving Averages (SMA).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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