Release Explanation: The release measure the change in the price of services which are purchased by corporations. It is considered a leading indicator of consumer inflation because when corporations pay more for their services they usually pass on the extra costs to the consumer.
Trade Desk Thoughts: The corporate services price index fell to -2.5 percent for the month, making this the third month in a row to show a decline as oil and commodities prices fall and the nation enters a recession. The advancing yen has been eroding corporate profits of exporters which is forcing them to cut costs. Many corporations are reducing production while curtailing the workforce.
Forex Technical Reaction: The yen weakened slightly off the back of this release, bouncing 30 pips higher off of the neutral pivot point of 89.00, the pair is currently trading at 89.35.
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Japan CSPI Falls For A Third Month
Published 12/31/2000, 07:00 PM
Updated 01/26/2009, 07:40 PM
Japan CSPI Falls For A Third Month
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