USD/JPY – Japanese manufacturers cautious ahead of sales tax decision

on Sep 11, 2013
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**iNVEZZ.com, Wednesday 11 September:**

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Japan’s BSI Manufacturing Index for Q3 came out at 00.50 BST today, soaring past expectations for 7.2 with a solid reading of 15.2, well up on the prior quarter’s 5.0 and the highest level since the third quarter of 2009. However, the survey indicated that manufacturers have reduced optimism about the outlook for Q4 with a reading of 13.5, and that they anticipate a bumpy start of 2014, with a first quarter evaluation of business conditions at 8.5. Another positive from the report was the improving employment situation, with companies expecting the upwards momentum to persist in the next two quarters.

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Forex: USD/JPY: 100.16 a pip too far Forex: Afternoon update: Negative data from Italy and France

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http://nvz.bz/1az2PQH
The assessment of domestic economic conditions was less positive for Q3, dropping from the prior reading of 29.0 to 22.0. At 14.1, the outlook for the last quarter of 2013 is well below the current level, but expectations for Q1 in 2014 are even gloomier with a reading of 10.0. The corporate world is perhaps exercising caution ahead of the Japanese government’s decision on whether it will proceed with hiking the consumption tax from next April.

The Nikkei 225 reached a 7-week high of 14.561.46 mid-way through the Asian session today, as prospects for international intervention in the Syrian crisis diminished, though the leading Japanese index closed Tokyo trading just 0.01 percent up on the day at 14,425.07.
After surging to a 55-day high at 100.61 earlier today, the USD/JPY currently is changing hands around 100.23, down 0.18 percent intraday.

Traders in the pair will be looking to price in the August release for US Wholesale Inventories, due out at 15.00 BST. The market consensus is for growth of 0.3 percent, versus July’s decline of 0.2 percent and June’s -0.5 percent.

Plus500
**Start Trading CFDs in more than 50 countries. >> **
Forex: USD/JPY: 100.16 a pip too far Forex: Afternoon update: Negative data from Italy and France

Bid HIGH or LOW
http://nvz.bz/1az2PQH

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