The Yen continues retreating. Overview for 10.06.2019

10.06.2019

On Monday, USDJPY continues growing; the Japanese currency is under pressure.

The Japanese Yen is keeping the negative momentum and getting cheaper against the USD on Monday morning. The current quote for the instrument is 108.65.

In the morning, Japan published the final report on the GDP for the first quarter 2019. The indicator expanded by 0.6% q/q, which is a bit better than the preliminary reading. The components of the report show that the key contribution was made by the Capital Expenditure, which added 0.3% q/q against the expected reading of -0.3% q/q. The Net Export added 0.4%. In general, the GDP improves just as expected, although the Japanese economy is obviously under significant pressure due to escalated global trade wars. 

The Bank Lending added 2.6% y/y in May against the expected reading of +2.4% y/y. 

The Eco Watchers Survey dropped to 44.1 points in May    after being 45.5 points the month before. The indicator shows sentiment of large companies’ staff towards the consumer expenditure dynamics. If the value is below 50 points, pessimistic sentiment prevails.