Japanese industrial production likely to have risen strongly in February

Japanese industrial production data is set to be released this week. According to a DBS Bank research report, industrial production in Japan is likely to have risen strongly in the month of February after shrinking in the prior month, as suggested by the rebound in the production forecast index released earlier.

Given this disruption impact on the cold weather at the start of this year, the first quarter economic growth is expected to miss the 1 percent mark. However, owing to the upward revision in the fourth quarter of 2017 GDP, the entire projection trajectory might continue to be roughly unchanged.

“Our whole-year growth forecast of 1.1 percent is still on track”, added DBS Bank.

At 20:00 GMT the FxWirePro's Hourly Strength Index of Japanese Yen was bullish at -99.1941, while the FxWirePro's Hourly Strength Index of US Dollar was bearish at -91.7428. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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