The market takes breath after the long rally. What opportunities do traders have today?
In July Japan's exports soar
In July, Japan's exports went up for an eighth straight month on sturdy shipments to the United States as well as a push from a dipping yen, thus suggesting the country’s economy is carrying decent momentum through to the second half of 2017.
The data actually underscores the BOJ’s view the world's number three economy is demonstrating surging signs of strength because private consumption contributed to momentum to an export-led revival.
Imports inched up for the seventh straight month on firm demand for personal computers as well as digital cameras from China, underlining the strength of domestic consumption that acted as a major driver of Japan's economic surge in the second quarter.
Exports to America went up 11.5% in July from 2016, thus marking the sixth straight month of revenues. It pushed up the Asian country’s trade surplus with the US by 9.1% from 2016 to 647 billion yen.
Japan's trade surplus has appeared to be an object of criticism by the Trump administration that has called for reducing the American trade deficit under his protectionist stance "America First."
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.