Japan Exports y/y comes in at 16.7% against 11% consensus
| Pair | Now | Since publish |
|---|---|---|
| USDJPY | — | — |
Japan’s Exports year over year came in at 16.7%, significantly exceeding the consensus expectation of 11%. This represents a 51.8% surprise relative to the analyst forecast. The previous month’s reading was 19.3%.
Following the release, JPY crosses showed limited movement in the first 15 minutes. AUDJPY moved up 1.5 pips, while CADJPY moved down 0.1 pips. CHFJPY declined by 2.1 pips, and EURJPY fell 1.3 pips. GBPJPY saw a gain of 0.6 pips. NZDJPY moved down 5.8 pips, and USDJPY declined by 1.7 pips. These movements are small when compared to the typical median 1-hour moves observed after past releases, which include 8 pips for AUDJPY, 4 pips for CADJPY, 6 pips for CHFJPY, 6 pips for EURJPY, 8 pips for GBPJPY, 7 pips for NZDJPY, and 7 pips for USDJPY.