au Jibun Bank Services PMI comes in at 51.2 against 52.6 consensus

The au Jibun Bank Services PMI for Japan was released at 51.2. This figure came in below the consensus expectation of 52.6 and was also lower than the previous reading of 52.2. The actual print represented a -2.7% surprise compared to the consensus forecast.

Following the release, the Japanese Yen showed varied movement against major currencies over the initial 15 minutes. AUDJPY declined by -8.2 pips, while GBPJPY fell by -2.5 pips. EURJPY and CHFJPY both saw minor declines of -0.9 pips and -0.8 pips respectively. CADJPY gained +0.1 pips, NZDJPY rose +1.5 pips, and USDJPY increased by +1.4 pips. These initial movements appear relatively small when compared to the median 1-hour moves observed after past releases, which typically range from 5 pips for CADJPY to 9 pips for GBPJPY.