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Japanese Yen Forecast: USD/JPY Faces Volatility Amid BoJ Rate Hike Bets and US Data
Industrial production figures from Japan will spotlight the USD/JPY on Tuesday, October 15. According to the preliminary report, industrial production tumbled by 3.3% year-on-year in August, reversing a 3.3% jump in July. A downward revision could reduce investor expectations for a late Q4 2024 Bank of Japan rate hike. A sustained decline in industrial production may affect Japan’s labor market. The manufacturing sector accounts for around 15% of the total workforce. Weaker demand for manufacturing could limit wage growth, possibly dampening consumer spending and inflation. While the Bank of Japan’s focus remains ... (full story)
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- Posted: Oct 15, 2024 2:48am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 5,316
