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Japan GDP Disappointment, AUD Takes A Dive, Powell’s Testimony


Today, in the early hours of the Asian morning, Japan released its GDP figures, which was not what the country was hoping for. Australia’s employment change number came out well below zero. UK’s retail sales are in the spotlight, together with eurozone’s preliminary GDP figures. Today, Jerome Powel delivers his testimony to the House Budget Committee.

Japanese GDP and Australia's Employment

During the early hours of the Asian morning we received Japanese GDP figures for Q3 on a QoQ and YoY basis. Although the numbers were already believed to come out lower than the previous ones, the actual readings were even lower. The QoQ figure came out +0.1%, against expected +0.2% and the previous adjusted +0.4%. But the YoY number was even worse, going from the previous +1.8% adjusted to only +0.2%, when the forecast was at +0.8%. Nikkei 225 took a deep dive and closed today’s trading session with...

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Source: https://www.jfdbank.com/en/research/japan-gdp-disappointment-aud-takes-a-dive-powells-testimony
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