Data on Japan is publishes today. Japan’s factory output in October unexpectedly increased 1.8% from the previous month, when it dropped 4.1%. According to statistics bureau, consumer prices excluding fresh food were unchanged from a year earlier. The nation’s jobless rate has not changed from the previous month, the reading is 4.2%.
The retail inflation rate was zero, prompting speculation that the Bank of Japan will expand stimulus plans of the local economy, which is endorsed by the opposition candidate Shinzu Abe, who is emerging as the new Japanese leader for December elections.
The decline of the yen along with the rise of the European currencies shot the yen pairs in the upward direction in the last hours.
The single currency reached 1.3014 and the pound, 1.6017. The Australian dollar appears very bearish in the 4 hours chart against the dollar, with a figure of aiming turnaround lies in the area of 1.0370.
As for the day's data, the unemployment rate in the euro-zone remains at 11.7%, high. The figures are much higher in countries like Spain and Greece, far exceeding the 20%.
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