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- Japan's Cabinet Office maintains moderate view on economic recovery
Japan's Cabinet Office maintains moderate view on economic recovery
In its monthly economic report published early Tuesday, the Japanese Cabinet Office maintained the overview of the economy that it was on a moderate recovery.
Key takeaways
“Japan raised its official assessment of imports for the first time in nine months.”
“Japan's imports are generally staying flat, modifying a previous expression that they were weak.”
“Yen's double-digit depreciation from a year earlier bumped up the value of imported goods.”
“The government recognized rising bankruptcies (previously said they were staying at low levels).”
“Maintained a warning against global financial volatility it added last month in response to Western bank collapses.”
Market reaction
Despite the upbeat report from Japan, USD/JPY is testing daily hghs near 134.35, courtesy of dovish remarks from Bank of Japan (BoJ) Governor Kazuo Ueda. The pair is up 0.09% on the day.
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