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Dec 1 2014, 12.45pm GMT


Japan225 [Nikkei225] is turning round its downward trend with a monthly gain of over 6 percent and a daily high of 176660.00, taking it to its highest since July 2008.

Data released today from Japan saw Capital Spending (YoY) (Q3) at 5.5%, well above the expected 2.1% and previous 3.0%. Manufacturing PMI (Nov) was at 52.0, slightly lower than expectations of 52.1 and the previous 52.1.

Last week Housing Starts (YoY) (Oct) slowed their downward trend at -12.3%, better than expectations of -14.5% and an improvement on the previous figure of -14.3%. Household spending was at +0.9%, well above the -5.1% eyed.

Other positive figures were the Unemployment rate at 3.5%, down from the expected 3.6%; Industrial Production (MoM) (Oct) was at 0.2%, a healthy increase from the forecasted -0.4%, though down on the previous 2.9%. Though Retail Sales (YoY) (Oct) lost at 1.4%, down from expectations of 1.5% and previous of 2.3%.

Over the course of the weekend, the US dollar made more gains against the yen to a daily high today of 119.123, as did the GBP, whilst the Canadian dollar, which had been rallying against the yen since mid-October, started to retreat.

Meantime, Japanese exporters are taking advantage of the weak yen, giving the impetus they need to push shares up on the Japan indices; Japan225 [Nikkei 225] was up to as much as 17655.58. Other Asian indices made increases; Hang Seng made 0.18% and the ASX made 1.63%.

MT4 chart: Japan225 [Nikkei 225]

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MT4 chart: USDJPY

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MT4 chart: CADJPY

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