The EUR/JPY cross extends the decline towards 169.20 during the early European trading hours on Friday.
EUR/JPY loses traction near 169.20 in Friday’s European session, down 0.18% on the day. The German Industrial Production declined 0.1% MoM in April from a 0.4% decrease in March, worse than expected. BoJ’s Ueda said inflation expectations are gradually rising but have yet to reach 2%. The cross edges lower after the release of weaker-than-expected German April Industrial Production.
Investors await the Eurozone Gross Domestic Product for the first quarter on Friday for fresh impetus. The GDP number is estimated to grow 0.3% QoQ and 0.4% YoY in Q1, unchanged from the previous reading. On the JPY’s front, many analysts believe the Bank of Japan will decide to trim its government bond buying when authorities meet next week. About 70% see the odds of such action rising due to the recent weakening of the Japanese Yen, according to a Bloomberg survey.
Crosses Majors Germany Industrialproduction
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