2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
Big Japanese manufacturers' mood reaches 11-year maximum
For the three months to December Japanese business confidence improved, hitting an 11-year maximum, as a major bank poll disclosed. It’s an evident sign that the Japanese economy is gaining momentum from firm exports as well as booming corporate revenues.
However, big manufacturers as well as non-manufacturers actually expect business conditions to worsen for the next three months, emphasizing their reluctance to embrace the improved operating environment via hikes in investment and wages.
Making cash-rich businesses spend more on wages turned to be a priority for the premier Shinzo Abe's vigorous efforts to tame the deflation, which has plagued Japan for almost two decades.
As part of that initiative, on Thursday Abe's ruling coalition passed a plan to slash the corporate tax rate. The measure will apply only for businesses, which increase spending. The given move is expected to improve business sentiment in the nearer months.
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.