Japan data: October Industrial Production (final) +1.3% (prior +0.5%)

<p>The flash reading for this was released a couple of weeks ago:</p><ul><li><a href="https://www.forexlive.com/news/japan-october-industrial-production-preliminary-10-mm-expected-08-20231129/" target="_blank" rel="follow">Japan October Industrial production (preliminary) +1.0% m/m (expected 0.8%)</a></li></ul><p>+1.3% m/m</p><ul><li>preliminary was +1.0%, prior +0.5%</li></ul><p>+1.1% y/y</p><ul><li>preliminaryy was +0.9%, prior -4.4%</li></ul><p>Domestic Japanese data isn't the focus for yen. Maybe inflation is to some extent, and wages outcomes in the Spring negotiations to come. Nope, what we have right now is markets discounting the future convergence of US and Japanese monetary policy and the unwind of the yen carry trade. You can stick the ECB in the same basket as the US, too, lower rates ahead. Hints to come today at the European Central Bank meeting? Yeah, I think so. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.