This figure measures the monthly change in output from Japan's service sector. Not included in this report is industrial manufacturing and since Japan is mainly export-based, this figure will give us a good indication as to the well-being of the domestic service sector. This includes health care, financial services, retail, wholesale, real estate and leisure activities, etc.
This figure, to be released later today, can move markets upon its release. We are also expecting to see Japan's GDP release at the same time, and if figures come out beyond expectations we tend to see a move in the markets.
The Yen strengthened against the US Dollar with the pair moving to a monthly low of 79.06. It is said that this week the Yen is set to appreciate even further as interest rates in Japan are on the increase.
|JPY Tertiary Industry GDP and the Yen s outlook page created by victor derma|