GDP q/q (JPY) comes in at 0.3% against 0.1% consensus
| Pair | Now | Since publish |
|---|---|---|
| USDJPY | — | — |
Japan’s Gross Domestic Product (GDP) quarter over quarter was released at 0.3%. This figure came in above the consensus expectation of 0.1%, representing a 200.0% surprise against the forecast. The previous quarter’s reading was 0.5%.
Following the release, market reaction in JPY crosses showed varied movements over the first 15 minutes. AUDJPY moved +1.9 pips, CADJPY moved +2.5 pips, CHFJPY moved +7.2 pips, EURJPY moved +2.7 pips, GBPJPY moved +5.5 pips, and NZDJPY moved +4.4 pips. USDJPY moved -0.7 pips. These initial moves are generally small when compared to the typical median 1-hour moves observed after past GDP releases, which include 8 pips for AUDJPY, 7 pips for CADJPY, 7 pips for CHFJPY, 9 pips for EURJPY, 11 pips for GBPJPY, 8 pips for NZDJPY, and 9 pips for USDJPY.