Heads up for Japanese inflation data due Friday. Will be way above target, again.

Japanese national inflation data for October will be published on Friday, 24 November at 2330 GMT, which is Thursday, 23 November at 1830 US Eastern time. 

We had Tokyo area CPI for October three weeks ago:

Headline and core rates of inflation have been above the Bank of Japan’s 2% target for more than a year. If you’ve been following along you’ll know that the Bank of Japan had insisted, over and over again, that they expected high inflation levels (for Japan) to be transitory. The Bank is now waiting for Spring (Japan Spring 2024) wage negotiations to show signs that pay rises will support sustained and stable inflation at or above the target. Once they are convinced of that the Bank will move to trim accommodative policy. Expectations are for some time next year:

There is a December, 18th and 19th, BOJ meeting ahead but that is too soon for a rate move. 

USD/JPY update:

usd jpy cpi update 23 November 2023

This article was written by Eamonn Sheridan at www.forexlive.com. Source