Japan’s Yamagiwa: GDP shows economy in moderate pick-up

Dhwani Mehta FXStreet

Japan’s Economy Minister Daishiro Yamagiwa expressed his take on the economic expansion seen in the second quarter of this year.

Also read: Japan PM Kishida: Instructed to keep unchanged imported wheat prices from October

Key quotes

GDP shows economy in moderate pick-up.

Expects economy to contiue picking up ahead.

Need to pay attention to uncertainties that could hamper economic recovery such as energy, food price hikes, slowdown in global economy and coronavirus resurgence.

Want to bring economy to higher growth path while expanding momentum of wage hikes.

Will proceed with seamless measures to cope with price hikes while making flexible use of budget reserves.

Market reaction

At the press time, USD/JPY is keeping its range just above 133.00, losing 0.30% so far.

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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD trims intraday gains, stays flat around 1.1630

EUR/USD struggles to find direction and trades in a narrow channel on Monday. Investors refrain from taking large positions ahead of this week's critical Fed policy meeting, allowing the pair to stay in a consolidation phase following two consecutive weeks of bullish action. US Dollar gains ground as risk aversion kicks in.

GBP/USD edges lower toward 1.3300 as markets turn cautious

GBP/USD corrects lower toward 1.3300 on Monday after posting gains in the previous week. The markets adopt a cautious stance ahead of the highly-anticipated Fed meeting, making it difficult for the pair to gather bullish momentum.

Gold remains seases below $4,200 as markets gear up for Fed

Gold turned south after Wall Street's opening, trading south of $4,200. The US Dollar finds additional legs on a souring mood on Monday as market participants prepare for the upcoming Fed meeting, which will provide key insights into the short-term policy outlook.

Bitcoin and Ethereum aim for breakouts as Ripple holds at $2

Bitcoin, Ethereum, and Ripple record a minor recovery on Monday, starting the week on a positive note. The retail demand for major cryptocurrencies remains strong despite outflows from Bitcoin and Ethereum Exchange Traded Funds.

The Silver disconnection is real

Silver just hit a new all-time high. Neither did gold, nor mining stocks. They all reversed on an intraday basis, but silver’s move to new highs makes it still bullish overall, while the almost complete reversals in gold and miners make the latter technically bearish.