Market Brief February 13th: GDP for Japan
Tuesday will be influnced by two major events. One of them is from the United Kigdom and the second is from Japan.
GBP 09:30 a.m. GMT, CPI (YoY) (Jan) – the Consumer Price Index measures the change in the price of goods and services from the perspective of the consumer. CPI is instrumental in measuring changes in inflation and purchasing trends.
Market analysts forecast a drop in CPI at 2.9% for the month of January this year compared to last year during the same time when CPI was at 3.0%. Should the actual result point to a higher than expected result, this should be seen as a bullish factor for the pound. On the other hand, a disappointing result could bring down the pound even further.
JPY 23:50 GMT, GDP (QoQ) (Q4) P – total output of goods and services for the last 4th quarter of 2017 is here. This number will show if the economy accelerated in its growth or slowed its pace. Projections point at a slower growth at 0.2% compared to 0.6% from the previous 3rd quarter. If we see that Japan grew faster than projected, this should be seen as a bullish sign for the Japanese yen while a weaker number could point to the opposite –i.e. a weaker yen going down in price.
There are predictions that investors will turn their focus mainly on Ether and probaly will turn their backs on Bitcoin. The reason could be traced to the crash that Bitcoin suffered and the fact that its perceived value has yet to bottom out. When it comes to markets what drives price and perceived value is investor confidence, and of course supply and demand.
Wishing you Happy and Successful Trading!
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