Japan data - February PPI flat at 0% change m/m (expected -0.1%) & +4% y/y (expected 4%)

The PPI data comes from the Bank of Japan.

Producer Price Index (YoY) (Feb) 4.0%

• expected 4.0%, prior 4.2%

Producer Price Index (MoM) (Feb) 0.0%

• expected -0.1%, prior 0.3%

On balance this is lightly higher than expected, but there isn;t much in it. A zero m/m change is not going to feen into large-scale CPI rises!

USD/JPY is on approach to its overnight high around 148.05 and thereabouts.

The Producer Price Index is a measure of prices for goods purchased by domestic corporates in Japan.

• The PPI is correlated with the CPI (Consumer Price Index) and is a way to measure changes in manufacturing cost and inflation in Japan. A high reading is seen as anticipatory of a rate hike and is positive (or bullish) for the JPY, while a low reading is seen as negative (or Bearish).