By FX Empire.com
The USD/JPY pair retreated in thin trading early Monday, despite the cheerful GDP data from Japan which helped the Japanese stock market to climb by more than 1.0%.
The Japanese economy grew 1.5% during the third quarter and by 6.0% on the yearly. The improvements during the third quarter based mainly on exports, even with the high value of the yen.
On the other hand, the greenback increased slightly against other major currencies after President Barack Obama’s strong words to the Chinese authorities on the delay of evaluate the yuan.
On Tuesday, the U.S. economy will release the Producer Price Index for October at 13:30 GMT, where the previous reading was up by 0.8% and it’s expected to drop by 0.2%, while the annual Producer Price Index for October is expected to come at 6.3% from the previous 6.9%.
The Advance Retail Sales for October will be released at 13:30 GMT with a previous reading of 1.1% and it’s expected to retreat to 0.2%.
At 13:30 GMT, the Empire Manufacturing for November will be released, where it’s expected to come at -4 from -8.48. The Business Inventories for September will be released at 15:00 GMT, and it’s expected to come at 0.5% in line with the previous reading.
Originally posted here
