Forecast: Will Japan’s core CPI fall less in October?

ForexNewsNow | Published on November 25, 2010 at 4:47 am

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NEW YORK (Forex News Now) – Japan’s Ministry of Internal Affairs and Communications is due Friday to publish monthly data on the country’s core CPI, in a major realtime forex news event.

According to median forecasts the report is expected to show that core CPI dropped only 0.6 percent in October, the smallest drop since April 2009. Core CPI fell 1.1 percent in September.

The ministry is scheduled to release the report at 11:30 P.M., GMT on Thursday night, in time to affect early Asian currency market trading on Friday.

Core CPI measures changes in the price of goods and services by consumers, but excludes fresh food. A simultaneous report on core CPI in the Tokyo area will also be released by the ministry overnight Thursday.

According to USD/JPY analysis, an even-smaller-than expected drop in CPI could lift the yen against the greenback and other currencies in Friday trading.

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