Forex Marketz Daily Forex News – Fully Markets Update
This morning, Japan released some indifferent economic data as the widely watched Bank of Japan’s Tankan business sentiment survey crossed the wires. The Japanese yen (USD/JPY) showed a rather lackluster response to the data.
The Tankan showed an improvement with corporate sentient as there was optimism in the manufacturing sector. As the yen continues to weaken, confidence is increasing this will boost exports in the second quarter, which started today.
The yen shrugs the Tankan off
The Tankan is closely watched business sentiment survey and it rose to 12 in first quarter, up from 10 in the period before. This was well below the expected print of 14, but positive nonetheless.
Looking at the above daily MT 4 chart, the USD/JPY Forex market was barely changed as the data crossed the wires. Yen traders have a very limited view of near term Bank of Japan policy trends. BOJ Governor Kuroda, and his policy makers at the central bank, seem to be in no hurry to change the status quo.
There is also regional political tensions keeping traders sidelined. In a recent article with the Financial Times, US President Donald Trump said the US will act unilaterally with North Korea if China did not do more to pressure the hermit nation from conducting ballistic and nuclear test. President Trump will be holding a two day meeting with the President of China in Florida this week.
