JPY: Domestic data dump was a mixed bag – RBC CM

Sue Trinh, Senior Currency Strategist at RBC Capital Markets, suggests that the Japanese data dump was a mixed bag, but had no impact on JPY, which was driven by overall risk appetite.

Key Quotes

“The Tokyo ex-fresh food CPI inflation – a leading indicator for the national index - made a new 3.5 year low at -0.5%y/y (cons: -0.4%y/y) in September and household spending growth contracted from -0.5%y/y to -4.6%y/y (cons: -2.1%y/y) in August. On the bright side, preliminary industrial production bounced back in August from - 4.2%y/y to 4.6%y/y.”