USDJPY Off 100 Week MAVG
The record Current Account deficit weakened the Yen, however the USDJPY pair has not been able to break through the 100 week moving average. A break above the indicator/38.2%/trendline resistance could put 2009 USDJPY levels into play into the new fiscal year in Japan (3/31 year end in Japan).
Aussie Employment Report
The Australian Dollar again has come under some pressure today as it has all week producing weaker than expected economic indicators. Although the rate is as expected the number of jobs created was ~20k less than expected with a softer participation rate. The details of the release are as follows:
- Employment Change – Survey:5.0k Actual:-15.4k Prior:46.3k
- Unemployment Rate – Survey:5.2% Actual:5.2% Prior:5.1%
- Full Time – Actual:0.0k Prior:12.3K
- Part Time – Actual:-15.4K Prior:34.0K
- Participation Rate – Survey:65.3% Actual:65.2%% Prior:65.3%
Japan’s Q4 GDP
The USDJPY pair momentarily caught a light bid following continued terrible numbers out of Japan, as their economy shrinks and deflates. The details are as follow:
- GDP Deflator (YoY) – Survey:-1.6% Actual:-1.8% Prior:-1.6%
- Nominal GDP (QoQ) – Survey:-0.3% Actual:-0.5% Prior:-0.8%
- GDP Annualized (YoY) – Survey:-0.6% Actual:-0.7% Prior:-2.3%
- GDP (QoQ) – Survey:-0.2% Actual:-0.2% Prior:-0.6%
- Current Account Total – Survey:-320B Actual:-437.3B Prior:303.5B
China Sets Yuan Reference Rate @ 6.3213, Weakest Since 1/17
Aussie Q4 GDP
The Australian economy expanded at a slower pace than expected in the 4th quarter, pushing the Aussie lower again toward the bottom half of the 1.05 handle.
- GDP (QoQ) – Survey:0.8% Actual:0.4% Prior:1.0%
- GDP (YoY) – Survey:2.4% Actual:2.3% Prior:2.5%
UK BRC Shop Price Index for Feb +1.2% (YoY) 1.4% prior
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