Trade Desk Thoughts - Japanese Retail Sales Actual

Japanese Retail Sales Actual 1.9%, Expected 1.3%, Previous 0.3%

Release Explanation: This report is a measure of the total sales of goods and services by retail stores in Japan. Retail Sales is an important measure of consumer spending and inflationary pressures in Japan. Steady increases in retail sales apply significant inflationary pressures to consumer prices. With Retail Trade being the foremost indicator for consumer spending, this figure is extremely important in understanding Japan’s economy.

Trade Desk Thoughts: Japans retail sales grew to 1.9 percent, beating analyst’s projects of 1.3 percent for the month of July. This marked the twelfth month of increases for the report. Sales at large scale retail stores dropped 0.7 percent while sales at the wholesale level increased 10.9 percent.

Forex Technical Reaction: The yen is currently entangled in its 20 day SMA as it has been for the past seven trading days. The pair has also failed to break above R1 or below S1 for the past four days.

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