The post Large Manufacturing Index remains unchanged at 13.0 in the third quarter (Q3) of 2024 – Tankan survey appeared on BitcoinEthereumNews.com.

Business confidence at large manufacturers in Japan remained steady in the third quarter (Q3) of 2024, according to the Bank of Japan’s quarterly Tankan survey on Tuesday.  The headline large Manufacturers’ Sentiment Index came in at 13.0 in Q3 from the previous reading of 13.0, in line with the expectations. Further details unveil that the large Manufacturing Outlook for the third quarter arrived at 14.0 versus 14.0 prior.   Market reaction to Japan’s Tankan survey At the time of press, the USD/JPY pair was up 0.06% on the day at 143.71.   Japanese Yen FAQs The Japanese Yen (JPY) is one of the world’s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors. One of the Bank of Japan’s mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets sometimes, generally to lower the value of the Yen, although it refrains from doing it often due to political concerns of its main trading partners. The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen. Over the last decade, the BoJ’s stance of sticking to ultra-loose monetary policy has led to a widening policy divergence with other central banks, particularly with the US Federal Reserve. This supported a widening of the differential between the 10-year US and Japanese bonds, which favored the US Dollar against the Japanese Yen. The BoJ decision in 2024 to…

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Filed under: News - @ October 1, 2024 12:20 am