CAD: is Canadian GDP puzzled?
Canadian monthly GDP will be out at 15:30 MT time on Friday.
Will the Japanese yen gain strength?
The Japanese Monetary Policy Meeting Minutes will be published at 01:50 MT time on December 24.
The Bank of Japan left its interest rate unchanged at -0.1% on December 19. Although governor Haruhiko Kuroda gave a generally upbeat economic outlook for Japan with a “moderate expansion trend”, he admitted there were weak spots and certain signs of slowing down in the Japanese economy. The governor explained that was due to a lower abroad demand and the negative effect of a typhoon that hit the country in October. Also, Mr. Kuroda made it clear that the BOJ will stay ready for further ease if required, in addition to the continued government spending program. Hence, the Monetary Policy Meeting Minutes will give more detail to these concerns and shed light on the vision of the monetary policy makers and the nation’s economic prospects for the nearest future.
- If the Meeting Minutes reveal an optimistic outlook and hawkish tone, the JPY will rise;
- If the Meeting Minutes reveal a moderate outlook and dovish tone, the JPY will fall.
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