Is little more than a year after the devastating earthquake and tsunami that decimated a good part of Japan and its economy, but more recent data suggests a remedy whose-half the resilience and the commitment of the Government of Japan. Recent figures show that Japan's economy far ahead of call-in capture of industrial services, including USA, UK, Germany.According to the Japanese Cabinet Office, Japan's economy grew in the first quarter, with Gdp mentioned in 4.1% annualized, well above the revised increase of 0.1% in the previous quarter and analysts ' expectations for an increase of 3.5%. In a fourth quarter-in basis, the figures are consistent, 1.0% increase from 0.0% in the previous quarter and slightly besting predictions of 0,9%. According to the report, the better than expected numbers was the result of a combination of factors including increased exports, domestic consumption and public investment in infrastructure reconstruction.
As of this writing, the pair USD/JPY is higher in 80.4620, the EUR/JPY is flat on the 102.1705 and the USD/JPY is higher at 79.7856. OpenBook trader from mencke to Germany has recently closed many professions Yen-crossed with various degrees of profit, a position long USD/JPY which closes with a 23,7% profit, while a long EUR/JPY where a trader with a profit of 22.4% in USD/JPY long who eked out a profit of 0.24%. The trader only has negotiated to OpenBook for about a month, but we can already see some laudable gains on Yen-with crossed lines for the month, the distribution of 4,6% of the pair USD/JPY has provided the trader with a profit of 26.9%, while the allocation of 7% to EUR/USD gave the dealer a return of 10.5%.
OpenBook guru Noe017 from France also had some good success with the Japanese yen, trading during the last quarter, the allocation of 4.8% for the pair USD/JPY gave 5,4% return, while a breakdown by 10,9% EUR/JPY has given a profit of 1.9% over the same period. An open short EUR/JPY close to dead, and a short position in the pair ended recently with a profit of 10.63%. Guru has 234 copiers and 2,493 followers as of writing this and the quarterly P/L is 54.7% and in 6 months is 101.2%.
It also shows improvement for the month of March was industrial production improved 14.2% by 13.9% (revised from 1,5%) on an annual basis. Based on a month to month, the Japanese Ministry of economy, trade and industry reports to 1,3% increase from a revised 1,0%, compared with expectations of 1,1%.
The Bank of Japan said that it is determined to maintain the Japanese Yen value oppressed despite the insurgence of funds safe haven after the eurozone's debt crisis. Despite the improvement in key points of data, the latest news is not likely to change position of the Bank in any way, but in fact might even stronger determination. Analysts believe that growth in Japan is likely to be modest, given the situation in the eurozone crisis and slowdown of the Chinese economy, which will weigh on Japan's exports.
S & P downgrades Spain two notches to BBB PM Rajoy comments contribute to risk off price action Yen sees whipsaw price action post new BOJ measures SNB back in focus. keeping an eye on EUR/CHF Risk correlated assets have come under pressure into Friday trade following the news of the latest S & P downgrade of Spain's credit rating by two notches to BBB. Comments from Spanish PM Rajoy that the country's ability to fund itself isat risk and that budget cuts are necessary due to an unmanageable deficit, also have not helped matters. As a result, the Euro has come under some added pressure, with the single currency trading back below 1.3200.
