Kiwi, yen higher after data; Bank of Japan on tap

Kiwi, yen higher after data; Bank of Japan on tap

19 November 2015, 08:04

On Thursday the yen gained in Asia as the the trade balance slid into positive territory and market players looked ahead to the Bank of Japan's latest policy views.

USD/JPY was last seen at 123.29, down 0.28%, while AUD/USD traded at 0.7160, up 0.7%.

In Japan, official data showed that the trade balance widened to a surplus of ¥112 billion in October, the first positive result in seven months. Imports dropped 13.4% year-on-year, while exports dipped 2.1%.

In a separate report, Japanese Ministry of Economy, Trade and Industry said that Japan’s All Industries Activity Index fell to a seasonally adjusted -0.2%, from -0.1% in the preceding month whose figure was revised up from -0.2%. Economists had expected Japan’s All Industries Activity Index to climb 0.2% last month.

The Bank of Japan will post its latest monetary policy views at 03:30 GMT followed by a 06:30 GMT press conference by Governor Haruhiko Kuroda. The regulator is expected to hold policy unchanged on asset buying, but may point to risks to meeting its 2% sustained inflation goal.

NZD/USD was last seen at 0.6528, up 0.87%.

In New Zealand, official data showed earlier that produce price inflation output in New Zealand increased more-than-expected last month.

Statistics New Zealand said that New Zealand PPI Output rose to a seasonally adjusted annual rate of 1.3%, from -0.2% in the preceding month. Economists had expected New Zealand PPI Output to rise 0.2% last month.

The body also reported that N.Z. producer price inflation input rose to a seasonally adjusted 1.6%, from -0.3% in the preceding quarter. N.Z. PPI input was expected to rise 0.1% in the last quarter.

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