Select Language

Japan's National CPI rises 2.3% YoY in October, Core CPI rises more than expected

blockHeadVisual
  1. HOME
  2. Get information
  3. World FX news
  4. Japan's National CPI rises 2.3% YoY in October, Core CPI rises more than expected

World FX news

search
Breaking news

Japan's National CPI rises 2.3% YoY in October, Core CPI rises more than expected

  • X
  • facebook
  • LINE
  • RSS
  • X
  • facebook
  • LINE
  • RSS
New update 2024.11.22 08:38
Japan's National CPI rises 2.3% YoY in October, Core CPI rises more than expected

update 2024.11.22 08:38

Japan's National Consumer Price Index (CPI) rose 2.3% YoY in October, compared to the previous reading of 2.5%, according to the latest data released by the Japan Statistics Bureau on Friday,

Further details unveil that the National CPI ex Fresh food arrived at 2.3% YoY in October versus 2.4% prior. The figure was above the market consensus of 2.2%. 

Market reaction to Japan's National CPI data

Following Japan's CPI inflation data, the USD/JPY pair is down 0.15% on the day at 154.27.

Japanese Yen FAQs

The Japanese Yen (JPY) is one of the world's most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan's policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.

One of the Bank of Japan's mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen.

Over the last decade, the BoJ's stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to gradually abandon the ultra-loose policy, coupled with interest-rate cuts in other major central banks, is narrowing this differential.

The Japanese Yen is often seen as a safe-haven investment. This means that in times of market stress, investors are more likely to put their money in the Japanese currency due to its supposed reliability and stability. Turbulent times are likely to strengthen the Yen's value against other currencies seen as more risky to invest in.

 

Date

Created

 : 2024.11.22

Update

Last updated

 : 2024.11.22

Related articles

Show more

Writer

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?
No loading Yes loading

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Previous article

prev

Australia's Judo Bank Manufacturing PMI improves to 49.4 in November, Services PMI eases to 49.6

Next article

EUR/USD backslides on Thursday, tests new multi-month low

prev

Most viewed

EUR/JPY bounces off multi-month low, down a little around 161.70 ahead of Eurozone PMIs

The EUR/JPY cross attracts some follow-through selling for the second straight day and drops to its lowest level since October 4 during the Asian session on Friday, albeit it managed to rebound a few pips thereafter.
New
update2024.11.22 13:37

India Gold price today: Gold rises, according to FXStreet data

Gold prices rose in India on Friday, according to data compiled by FXStreet.
New
update2024.11.22 13:37

Gold price advances to near two-week high, eyes $2,700 on geopolitical tensions

Gold price (XAU/USD) prolongs its uptrend for the fifth consecutive day on Friday and climbs to a nearly two-week top, around the $2,690-2,691 area during the Asian session.
New
update2024.11.22 13:12

GBP/USD falls to six-month lows near 1.2550 ahead of PMI figures from both economies

GBP/USD extends its losses for the third successive session, trading around 1.2580 during the Asian hours on Friday.
New
update2024.11.22 13:05

Silver Price Forecast: XAG/USD bounces back to near $31.00 due to safe-haven flows

Silver price (XAG/USD) retraces its recent losses, trading around $31.00 per troy ounce during the Asian hours on Friday.
New
update2024.11.22 12:19

USD/INR holds steady ahead of Indian PMI release

The Indian Rupee (INR) trades flat on Friday after hitting an all-time low of 84.50 against the US Dollar (USD) in the previous session.
New
update2024.11.22 12:18

Australian Dollar extends gains despite  mixed PMI

The Australian Dollar (AUD) continues to strengthen against the US Dollar (USD) following the release of mixed Judo Bank Purchasing Managers' Index (PMI) data from Australia on Friday.
New
update2024.11.22 11:29

Japanese Yen fails to build on stronger CPI-led intraday uptick against USD

The Japanese Yen (JPY) attracted some follow-through buying for the second successive day following the release of slightly higher-than-expected consumer inflation figures from Japan.
New
update2024.11.22 11:27

WTI recovers above $70.00 as Russia-Ukraine war escalates

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $70.25 on Friday.
New
update2024.11.22 10:39

PBOC sets USD/CNY reference rate at 7.1942 vs. 7.1934 previous

On Friday, the People's Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead at 7.1942, as compared to the previous day's fix of 7.1934 and 7.2502 Reuters estimates.
New
update2024.11.22 10:18

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

arw
  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Line

Line
Facebook

Facebook
X

Twitter
Cancel