Japan business sentiment shows mixed picture
Japanese manufacturers confidence reached an eight-year high over the third quarter driven by robust global AI demand. However service-sector mood soured due to rising costs and soft consumption. This mixed economic picture eases pressure on the Bank of Japan for an immediate rate hike.
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Xurve View
Japan manufacturers reached an eight-year high in business confidence during the third quarter, contrasting with a dip in non-manufacturing sentiment that eased pressure on the central bank. The mixed tankan survey results cooled market expectations for consecutive interest rate hikes. Investors pared bets on an immediate policy tightening, pushing the USD/JPY lower during Thursday trading.
