News Headline Summary

Japanese GDP Annualized (Q4 P) -0.4% vs. Exp. 0.4% (Prev. -3.5%)

- GDP (Q4 P) Q/Q -0.1% vs. Exp. 0.1% (Prev. -0.9%)
- Nominal GDP (Q4 P) Q/Q -0.4% vs. Exp. 0.0% (Prev. -0.9%)
- GDP Deflator (Q4 P) Y/Y -0.6% vs. Exp. -0.6% (Prev. -0.8%)

Update details:

- The lower than expected GDP figures could raise expectations of further monetary easing from the BoJ.
- The lower GDP figure shows that Japan's economy has contracted for the third consecutive quarter.

Reaction details:

- In an immediate reaction, USD/JPY moved higher by 12 pips from 93.23 to 93.35, trades 93.34 (-4 pips) last.

Print 23:51, 13 Feb 2013 - Asian News - Source: Newswires