Expectations for this morning’s retail sales data out of Japan were for zero growth, which would have been a step in the right direction had it occurred. Unfortunately, the level of consumer spending on retail items in Japan fell by approximately 1.2% in October.
The impact has so far been muted by the Bank of Japan’s (BOJ) interest rate statement which saw the nation’s rates held near zero percent and few comments worthy of note. The yen is still trading mildly bullish, though some setbacks have been seen from recent data.
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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.
