By FX Empire.com
The BOJ is still looking for the appropriate measure to prevent its currency from recording more gains and hurt the economy, as all the previous measures have failed. While a strong portion of the recent Yen appreciation has to do with the euro zone sovereign debt crisis and slowdown in the US.
The Bank of Japan expanded the stimulus as Europe’s deepening sovereign-debt crisis pushed the yen to a postwar high against the dollar, threatening the nation’s post- earthquake rebound.
Japanese monetary policy makers kept the interest rates at virtually zero and increased the stimulus to support the economy to face the sluggish global economy. Bank of Japan governor increases the assets purchase fund to 20 trillion yen and the credit-loan program to 55 trillion yen.
On Thursday at 23:30 GMT (Wednesday), the Japanese economy will release the Jobless Rate for September, which is expected to come at 4.5% from the previous 4.3%.
The Japanese annual Household Spending for September is expected to fall to 3.7% from the previous 4.1%.
The National Consumer Price Index for September in Japan will be released at 23:30 GMT where is expected to remain unchanged at 0.2%, while the National Consumer Price Index Ex-Fresh Food is expected to come at 0.2% the same as the prior reading.
The Japanese Industrial Production for September will be up at 23:50 GMT, with a previous reading of 0.8% and expected to fall to -2.8%, while the annual reading is expected to come at -2.8% from the prior 0.4%.
The U.S. Personal Income for September will be released at 12:30 GMT and it’s expected to come at 0.3% from the previous -0.1%, the Personal Spending Index had a prior reading of 0.2% and expected to come at 0.6%.
The Core PCE for September had a previous reading of 1.6% and expected to rise to 1.8%.
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