Today was published positive statistics on industrial production in Japan, which is a key indicator for the Japanese yen. In October, industrial production grew by 1.4%, which was 0.3% better than in September, but was 0.5% worse than the average forecast of analysts. For the year, industrial production fell by 1.4%. Improving this indicator supports the yen, but investors continue to closely monitor the demand for Japanese goods abroad, especially in China. Tomorrow, the dynamics of trading will be influenced by the news on manufacturing PMI in China and Japan. Our medium-term outlook for the yen remains negative due to the divergence in monetary policy of the Bank of Japan and the Federal Reserve.