Japanese Govt maintains 'moderate' economic view in September

The latest monthly economic report released by the Japanese Cabinet Office on Thursday showed that Japan's government maintained its view that the economy is recovering at a moderate pace in September.

Key Highlights:

The government left its assessment of most of the individual components of economic growth unchanged, offering a generally positive view of domestic demand ahead of a sales tax hike scheduled for October.

The government retained its view that corporate profits held at a high level, as long-term strength in services-sector firms offset less rosy performance in the manufacturing sector.

It also kept its assessment that capital expenditure was expanding at a moderate pace despite some weak spots in spending by manufacturers.

USD/JPY keeps its recent range around 108.00, as the bulls lack follow-through amid negative S&P futures and BOJ’s status-quo.