Germany’s media outlet, MNI, carries an editorial piece on Monday, citing that the Bank of Japan (BOJ) officials are concerned about the economic prospects in the July-September quarter (Q3) after the sharp Q2 GDP contraction. Key takeaways “A sharp contraction had already been discounted and the scale of the recovery in Q3 is a key focus. “ “BOJ economists were fully aware Q2 activity had been severely restricted by the coronavirus outbreak, with the wider hospitality and tourism industries particularly badly hit as a state of emergency was imposed and social restriction measures were put in place.” “High-frequency data seen by BOJ officials have shown a slowing in consumer activity since mid-July, raising concerns that the Q3 recovery may be weaker than first expected. “ “Bank officials still see a recovery in Q3, although with many people staying home or steering clear of large, crowded areas as Covid-19 infection levels grow, forecasts are being revised lower.” Market reaction USD/JPY consolidates the uptick to 106.67, reached after the Japanese GDP contracted by a record in the April-June quarter. Broad dollar weakness keeps the further upside elusive in the spot. At the press time, USD/JPY trades flat at 106.60. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin Price Prediction: BTC/USD next target 2017 all-time high at $20,000 – analyst FX Street 2 years Germany’s media outlet, MNI, carries an editorial piece on Monday, citing that the Bank of Japan (BOJ) officials are concerned about the economic prospects in the July-September quarter (Q3) after the sharp Q2 GDP contraction. Key takeaways “A sharp contraction had already been discounted and the scale of the recovery in Q3 is a key focus. “ “BOJ economists were fully aware Q2 activity had been severely restricted by the coronavirus outbreak, with the wider hospitality and tourism industries particularly badly hit as a state of emergency was imposed and social restriction measures were put in place.” “High-frequency data seen… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
