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Forex Flash: Japanese economy clearly into a recovery phase - Nomura

FXstreet.com (Barcelona) - Tomo Kinoshita, Chief Japan Economist at Nomura notes that the Japanese economy has clearly moved into a recovery phase.

He notes that Real GDP in 2013 Q1 was up a sharp 0.9% q-q (3.5% annualized) according to first preliminary estimates and this was well above the consensus forecast (Bloomberg survey median) of +2.7% and our own forecast of +3.1%. He writes, “The Japanese economy has clearly moved into a recovery phase after languishing from 2012 Q2.”

Forex: EUR/USD hits fresh highs after Philly Fed slump

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