Japans Gross Domestic Product Q4 +1.3% QoQ vs. expected 1.4%, yen ignored the data, focus on Russia
|Japans Gross Domestic Product preliminary for the fourth quarter arrived 2021 +1.3% QoQ vs. expected 1.4%.
The markets are instead fixated on geopolitics so the data had no effect on the price of the yen. The probabilities of an imminent attack on Ukraine were higher on Monday after President Volodymyr Zelenskiy urged Ukrainians to fly the country's flags from buildings and sing the national anthem in unison on Feb. 16, a date some Western media have cited as the possible start of a Russian invasion. The yen picked up a bid on the sentiment.
About Japan GDP
The Gross Domestic Product released by the Cabinet Office shows the monetary value of all the goods, services and structures produced in Japan within a given period of time. GDP is a gross measure of market activity because it indicates the pace at which the Japanese economy is growing or decreasing. A high reading or a better than expected number is seen as positive for the JPY, while a low reading is negative.
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