- GDP Annualized (Q3 F) Q/Q -3.5% vs. Exp. -3.3% (Prev. -3.5%)
- Nominal GDP (Q3 F) Q/Q -0.9% vs. Exp. -0.9% (Prev. -0.9%)
- GDP Deflator (Q3 F) Y/Y -0.8% vs. Exp. -0.7% (Prev. -0.7%)
Reaction details (10:56)
- USD/JPY immediately moved 3 pips to the downside, trades 82.54 (+4 pips) last.
- In the following two minutes, JGB futures moved higher by 5 ticks from 145.07 to 145.12.
Analysis details (11:06)
- Japan's economy contracts for second straight quarter in July-September.
-The Japanese economy has fallen victim to a number of factors, with
some being outside its control and others being entirely self
inflicted. Firstly their Export based economy has suffered due to the
economic slowdown as investment and expenditure take a back seat to
deleveraging. Secondly Japanese consumer technology companies have
failed to innovate, falling by the wayside as their competitors forge
ahead. The purchase of disputed islands in the East China Sea has also
dented exports as anti-Japanese sentiment grew in China with consumers
refusing to purchase Japanese goods. Lastly the country has also had a
persistently strong JPY which has made its exports less attractive.
10 Dec 2012 - 10:50 - Forex - Source: Newswires
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