Japanese Yen Uninspired by Eco Watchers Survey Release
THE TAKEAWAY: Eco Watchers Survey Slightly Below Expectations > Traders Unfazed by Small Deviation from Forecast > USDJPY Trades Sideways
Data released by the Japanese Economic and Social Research Institute showed that business confidence rose in the month of February among workers in cyclical market sectors. The Eco Watchers Survey current index rose to 45.9 from 44.1, falling slightly short of analysts’ expectations of 46. The outlook index rose to 50.1 from 47.1.
Traders had already priced in their expectations regarding the figures, so the data’s release led to no major portfolio rebalancing. The slight shortfall of the current index did not faze the markets. The USDJPY maintained its trendless trading.
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