Trade Desk Thoughts - Japanese Preliminary Industrial Production

Posted by admin
October 29, 2008

Trade Desk Thoughts - Japanese Preliminary Industrial Production

Japanese Preliminary Industrial Production Actual 1.2%, Expected 0.5%, Previous -3.5%

Release Explanation: This report is a preliminary leading indicator of an economy’s health. Industrial production measures the volume of items produced in Japan’s mining and manufacturing industries and tends to react quickly to the ups and downs in the business cycle. For these reasons industrial production is considered a reliable leading indicator that conveys information about the overall health of the Japanese economy.

Trade Desk Thoughts: Industrial production for September increased 1.2 percent from the previous month. This was the first increase seen during the past two months. The report also showed an increase on0.4 percent from the previous year. Industries that contributed to the gain were general machinery, transport equipment, and electric parts and devices. According to a production forecast survey, production is expected to decrease 2.3 percent in October and another 2.2 percent decrease for November.

Forex Technical Reaction: The yen was largely unchanged after the report was released, trading in between the neutral and R1 LFB pivot points.

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