NEWS / Foreign Exchange

Japan jobless rate steady at 4.0 % in February

Japan jobless rate steady at 4.0 % in February

Japan's seasonally adjusted unemployment rate was unchanged from January at 4.0 % in February, against a market consensus forecast of 4.0 %, government data showed on Friday.

Japan February nationwide core CPI -0.1 % year/year

Japanese core consumer prices declined 0.1 % in February from a year earlier, government data showed on Friday. That matched the consensus forecast of economists.

The core CPI in the Tokyo area, which is announced a month before the nationwide figures, declined 0.1 % in March compared with a year earlier. That was below the consensus forecast for a flat reading.

Japan's industrial production fell 0.2 % in February from a month earlier, government data showed on Friday, compared with a median market forecast of a 0.8 % fall.

USDJPY opened at 117.96 and was traded between 117.47 and 118.20.

Fed's Lacker - don't be complacent on inflation

Federal Reserve Bank of Richmond President Jeffrey Lacker said on Thursday that no central bank can be complacent toward inflation expectations and must secure them through consist policy action.

"Central banks should not take inflation expectations for granted by acting in ways that are inconsistent with expectations but assuming expectations will not change," Lacker said in prepared remarks to the Virginia Association of Economists.

Nikkei rises after industrial data

The Nikkei average rose 0.43 % in morning trade on Friday as investors bought shares of some manufacturers such as Honda Motor Co. Ltd. after data showed industrial output fell less than expected last month, and due to a decline in the yen.

But overall gains were limited as investors took a cautious tack due to the end of the financial year and ahead of the release next week of the Bank of Japan's tankan business sentiment survey.

The Nikkei finished the morning up 74.33 points at 17,338.27. The broad TOPIX index was up 0.50 % at 1,719.31.