Japan's National CPI 1.4% y/y in Jan vs. 1.3% Expected, 1.6% in Dec
Industrial Production 4.0% m/m in Jan, Largest Gain Since June 2011
Retail Sales 1.4% m/m vs. 1.3% Expected, Jobless Rate Held at 3.7%
Japan's headline CPI inflation rate slowed to 1.4 percent in January from 1.6 percent recorded in the prior month but topped forecasts calling for a 1.3 percent increase. Industrial production grew 4 percent, topping expectations penciling in a 2.8 percent expansion and marking the largest monthly increase since June 2011. Retail sales added 1.4 percent, a hair better than the 1.3 percent rise projected prior to the release.
The Japanese Yen produced a muted reaction to the economic data, with USD/JPY continuing a move lower that began before the releases crossed the wires. That decline tracked a slide in S&P/ASX 200 futures would prove to telegraph a bout of risk aversion once Asian stock exchanges came online, pegging the Yen's advance as reflective of safe-haven demand.
USD/JPY, AUS200 (10 Min Chart)