Japan Trade Balance - BOP Basis declines to ¥-1479.3B in Jan from ¥-567.6B
Mar 8, 2013
Japan Q4 GDP at 0%
Japan Gross Domestic Product (QoQ) stood flat at 0% in 4Q vs a -1% reading in Q3 and estimates of +0.1% according to a poll from Reuters. On a yearly basis, Japan posted growth of 0.2% vs -3.8% a year ago, estimates were for +0.2% the Reuters poll suggested. Japan Current Account Total for the month of January came at -364.8b yen vs. -611.5b yen expected. Meanwhile, data referring to Japan's Q4 GDP deflator showed a read of -0.7% y/y vs. -0.6% expected.
Forex Flash: Aussie rallying with a strong global growth? Not anymore – TDS
According to Singapore based analyst at TD Securities Alvin Pontoh: “From around the time when the ECB announced the OMT last September (fulfilling Draghi’s promise to do “whatever it takes” to save the euro), the Aussie dollar’s correlation with US growth indicators began to turn negative,” Alvin notes, adding: “That is to say, positive growth surprises out of the US — still the world’s largest and most important economy — was met by lower, not higher AUD, as the USD reverted to its historical role as a 'growth currency,'” he concludes.