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Japanese GDP Unexpectedly Contracted in Q4

Japanese GDP unexpectedly contracted in Q4 of last year. Shrinking 0.1% q/q after a -0.8% contraction in Q3 puts the island in a technical recession. Net exportsโ€™ contribution was insufficient to make up for weak business spending and private consumption. Waning demand complicates the picture for the Bank of Japan which is looking to exit its ultra-easy monetary policy. While todayโ€™s data doesnโ€™t derail those plans per se, it does suggest the window of opportunity may be closing. The Japan...
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Japan's Recession Can't Hold Back Yen's Recovery and Nikkei's Surge

Japanese Yen recovers broadly in Asian session today, while Nikkei also soared to a new 34-year high, surpassing the 38k mark. The move came as a rather complex reactions to economic data showing that Japan unexpectedly slipping into recession. The surprised downturn also led to the country's demotion to the world's fourth-largest economy in 2023, with Germany ascending to third place.
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