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Uncertainty over Japan sales tax hike persists going into GDP release – TradeTheNews

FXStreet (Barcelona) - The TradeTheNews Research Team views the market bias tilting heavily towards the release of Q3 preliminary GDP the coming Sunday evening.

Key Quotes

“Market bias should tilt much more heavily in one direction or another after the release of Q3 preliminary GDP this coming Sunday evening - a disappointing figure should seal the delay, while an upside surprise will support the case for a hike on schedule.”

“Today's Nikkei report indicated Abe is close to make a decision, with primary factors being the GDP report and subsequent meetings with economic advisors - the last of which should be done by Tuesday.”

“Today, USD/JPY retested 116 handle for a 7-year high after fiscally conservative Fin Min Aso acknowledged "stalling" private consumption in spite of improvement in employment and investment. Econ Min Amari also indicating a delay remains possible, warning that economic stimulus steps may be needed if the hike is pushed back.”

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