Today’s revised industrial production figures, published by the Japanese Ministry of Economy, Trade and Industry (METI) at 5:30 GMT this morning, revealed industrial growth coming in moderately above forecasts. Expectations were for growth of approximately 1.0%, but today’s report revealed a 1.6% increase in Japanese industrials.
The Japanese yen has been earning support these past several trading weeks as investors weigh risk sentiment in the global market. The allure of the yen’s low interest rates have made it a prominent store of value for forex traders. This news, coupled with the Bank of Japan’s (BOJ) decision to hold rates near zero today, will likely continue to support this general sentiment.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
