The dollar fell versus the yen on Friday as an unexpected drop in U.S. factory output in January added to concerns that the economic recovery has actually lost momentum since completion of last year.
USD/JPY hit 101.56 on Friday, the most affordable considering that February 7 and was last down 0.33 % to 101.83. For the week, the pair lost 0.30 %.
The pair was most likely to find support at 101.23 and resistance at 102.40, Friday's high.
The dollar slid after data showed that U.S. commercial manufacturing fell 0.3 % from a month earlier in January, compared with expectations for a 0.3 % gain.
The data sustained issues that inclement winter weather condition is working as a drag on development.
A different report revealed that the initial reading of the University of Michigan's consumer sentiment index for February was available in at 81.2, unchanged from the final reading in January. Analysts had anticipated the index to tick down to 80.6.
The dollar's losses were composed check by expectations that the Federal Reserve will continue to scale back its stimulus program.
In her first Congressional testimony given that her consultation as Fed Chair, Janet Yellen stated Wednesday that the central bank would remain to slowly reduce the speed of its property purchase program.
She also reiterated that the Fed plans to hold rate of interest at zero "well past" the time the out of work rate falls below 6.5 %.
In the week ahead, Japan is to release exactly what will be carefully watched data on fourth quarter economic growth. A rate evaluation by the Bank of Japan and U.S. information on consumer inflation will also be in focus.
Ahead of the coming week, Investing.com has put together a list of these and other considerable events likely to influence the markets.
Monday, February 17
Japan is to launch preliminary information on 4th quarter gross domestic product, the broadest indicator of financial activity and the leading indication of economic development.
Markets in the U.S. are to remain closed for the Head of states Day vacation.
Tuesday, February 18
The BoJ is to announce its benchmark interest rate and publish its financial policy statement, which describes economic conditions and the elements affecting the bank's choice. The statement is to be followed by an interview.
The U.S. is to launch data on manufacturing activity in the Empire State.
Wednesday, February 19
The U.S. is to publish reports on building permits, housing starts and manufacturer price inflation.
Meanwhile, the Federal Reserve is to publish the minutes of its newest policy setting meeting.
Thursday, February 20
Japan is to publish data on the trade balance, the difference in value between imports and exports.
The U.S. is to release the regular report on initial unemployed claims and data on consumer cost inflation. The country is likewise to launch data on produce activity in the Philadelphia region.
Friday, February 21
The BoJ is to publish financial policy meeting minutes.
The U.S. is to round up the week with private sector information on existing houses sales.
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USD/JPY hit 101.56 on Friday, the most affordable considering that February 7 and was last down 0.33 % to 101.83. For the week, the pair lost 0.30 %.
The pair was most likely to find support at 101.23 and resistance at 102.40, Friday's high.
The dollar slid after data showed that U.S. commercial manufacturing fell 0.3 % from a month earlier in January, compared with expectations for a 0.3 % gain.
The data sustained issues that inclement winter weather condition is working as a drag on development.
A different report revealed that the initial reading of the University of Michigan's consumer sentiment index for February was available in at 81.2, unchanged from the final reading in January. Analysts had anticipated the index to tick down to 80.6.
The dollar's losses were composed check by expectations that the Federal Reserve will continue to scale back its stimulus program.
In her first Congressional testimony given that her consultation as Fed Chair, Janet Yellen stated Wednesday that the central bank would remain to slowly reduce the speed of its property purchase program.
She also reiterated that the Fed plans to hold rate of interest at zero "well past" the time the out of work rate falls below 6.5 %.
In the week ahead, Japan is to release exactly what will be carefully watched data on fourth quarter economic growth. A rate evaluation by the Bank of Japan and U.S. information on consumer inflation will also be in focus.
Ahead of the coming week, Investing.com has put together a list of these and other considerable events likely to influence the markets.
Monday, February 17
Japan is to launch preliminary information on 4th quarter gross domestic product, the broadest indicator of financial activity and the leading indication of economic development.
Markets in the U.S. are to remain closed for the Head of states Day vacation.
Tuesday, February 18
The BoJ is to announce its benchmark interest rate and publish its financial policy statement, which describes economic conditions and the elements affecting the bank's choice. The statement is to be followed by an interview.
The U.S. is to launch data on manufacturing activity in the Empire State.
Wednesday, February 19
The U.S. is to publish reports on building permits, housing starts and manufacturer price inflation.
Meanwhile, the Federal Reserve is to publish the minutes of its newest policy setting meeting.
Thursday, February 20
Japan is to publish data on the trade balance, the difference in value between imports and exports.
The U.S. is to release the regular report on initial unemployed claims and data on consumer cost inflation. The country is likewise to launch data on produce activity in the Philadelphia region.
Friday, February 21
The BoJ is to publish financial policy meeting minutes.
The U.S. is to round up the week with private sector information on existing houses sales.
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