Japan adjusted Current Account undershoots expectations, ¥744.3B versus expected ¥1,018.9B

Joshua Gibson FXStreet

Japan's Current Account came in below expectations, with the adjusted balance of trade printing at ¥744.3 billion compared to the ¥1.01 trillion forecast, an eleven-month low for the indicator.

Foreign Investment in Japanese Stocks also got pulled down, with foreign funds investment into Japanese equities declining to ¥308.4 billion compared to the previous period's ¥721 billion.

Market reaction

USD/JPY continues to trade tightly near the 148.00 price handle as markets gear up for Thursday's trading session.

About Japan's Current Account

The Current Account released by the Ministry of Finance is a net flow of current transactions, including goods, services, and interest payments into and out of Japan. A current account surplus indicates that the flow of capital into Japan exceeds the capital reduction. A current account deficit indicates that there is a net capital outflow from these sources. A high reading is seen as positive for the JPY, while a low reading is seen as negative.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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