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JPYINR Intraday Outlook : 22.3.2017

JPYINR Intraday Outlook : 22.3.2017
NIFTY FUT  TREND             : SELL ZONE
BANKNIFTY FUT  TREND  : SELL ZONE


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Japan's whopping trade surpluses with America, once a source of friction, peaked decades ago. Unexpectedly, the issue is back. Donal Trump's campaign to put America first heightens the significance of data on Japanese trade and industrial activity that will be released today. The last figures did not support accusations of predatory trade: Japan posted a deficit of 1.1 Trillion Yen for January 17, as exports of cars to America fell & fuel imports rose. True, America's tade gap with Japan was nearly $69bn last year, second only to China. As a percentage of deficit, however, Japan's share has fallen by a factor of six over the past quarter of a century. Alarmed by the threat of protectionism, Japanese companies point out that they make millions of cars in America. Whatever Trump says, the bad old days of 1990s are gone forever. With investor mood decidedly risk-off, the Japanese Yen scored some chunky gains against the U.S. Dollar, rising to a four-month high. USDJPY currently is trading at 111.60 near to major technical supports. The Trade Balance figures from Japan today are impressive with a reading of 0.68T well ahead of the expectations slated at 0.55T. The BoJ left all its policy settings unchanged at the meeting, as it was expected to do, and the minutes offered markets little in the way of new insight. Most members of the Monetary Policy Committee agreed that the longed-for price momentum was not yet firm in Japan, the minutes showed. One ray of hope for the MPC was the belief that companies were likely to raise prices as consumer spending increases.