Trade Desk Thoughts - Japanese Overall Household Spending

Japanese Overall Household Spending Actual -4.0%, Expected -1.3%, Previous -0.5%

Release Explanation: The overall household spending report measures the total amount spent by households on goods and services in Japan. A rising trend tends to have a positive influence on a nations currency because consumer spending is a major part of the overall health of the economy.

Trade Desk Thoughts: The average amount of monthly Japanese household spending for households of two or more fell 1.6 percent in nominal terms and is down 4.0 percent in real terms from one year ago. For workers households, the amount of monthly income was up 4.4 percent in nominal terms and 1.9 percent in real terms from a year earlier; however, consumption expenditures were down 0.7 percent nominally and 3.1 percent.

Forex Technical Reaction: The yen increased slightly from the reports that have been released this evening. The pair is still quite a ways from the neutral LFB pivot at 104.95.

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