The JPY Housing Starts comes out better than expected at 19.0% from the previous -16.7%. This was forecast at 14.5%. This was the first positive reading for this series of data since last June hinting at a possible turn around for the second largest world economy of Japan.

Despite this better than expected data, in this thin market because of the US holiday this weekend, the JPY did not move much. The USDJPY dropped a few PIPS while the JPY crosses did not react much at all.