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Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese economy.
The wages figures actually support recent data demonstrating that household spending dived more than expected, while in March core consumer prices ascended at a slower-than-expected pace, suggesting an exit from the major bank's radical quantitative easing program is still distant.
In March, inflation-adjusted real wages went down 0.8% from a year earlier to mark their greatest rate of drop since June 2015, as labor ministry data disclosed on Tuesday.
In nominal terms, in March wage earners' cash earnings went down 0.4% year-on-year, also notching the greatest rate of decline since June 2015.
The data actually underscores the fragile also and patchy nature of Japan's economic revival.
In October, American wholesale inventories rallied a bit more than initially anticipated because sales went down, dropping a hint that inventory investment could potentially contribute to economic surge in the fourth quarter…
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The United States will release the non-farm employment change, also known as non-farm payrolls or NFP at 15:30 MT time on December 7.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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