Reports issued this morning by the Bank of Japan (BOJ) have created mixed results. The intervention by the BOJ in forex markets last Thursday has caused several swings in currency values over the last few trading days. This morning’s data releases are generating similar movement.
Annualized data on bank lending revealed a 0.5% decline, highlighting what many had already assumed was a suppressed lending market amid the recent turmoil in Japan over the past year. The island economy’s Current Account also revealed sluggish growth in its trade balance, failing to meet market expectations. However, the Economy Watcher’s Sentiment index rose by over 3 points to 52.6 this month, underlining a recent uptick in financial outlook which was largely unexpected.
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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.
