During the Asian trading session, the White House economic adviser Larry Kudlow announced the positive progress in phase one trade deal with China.
In March the surge of Japan’s key indicator of inflation speeds down to 0.9%
In Japan, consumer prices excluding fresh food, which is the major inflation indicator, closely watched by the country's major financial institution, headed north by approximately 0.9% in April this year having jumped by about 1% in February, which turned to be the maximum for 3.5 years. That’s what the Ministry of Internal Affairs and communications of the country has recently uncovered.
The rise of the indicator generally coincided with market expectations, as Nikkei points out. As a matter of fact, the price increase in March was noted for the 15th consecutive month.
Market experts tell that while it is a matter of temporary easing, rather than a true reversal of inflationary trends in this Asian country, according to Bloomberg. In the coming months, the key inflation indicator is going to be fixed above 1%, although it won’t reach the level targeted by the Bank of Japan (about 2% per annum). That’s what Masamiti Adati, senior economist JPMorgan Chase & Co. in Tokyo informed.
However, the chief economist of Tokai Tokyo Research Center Hiroaki Muto is 100% aassured that the weakness of inflation in the coming months is going to continue due to the deferred influence of the Japanese yen's growth, which the country’s economy will experience in May-June.
In March, consumer prices excluding food and energy tacked on by approximately 0.5% in annual terms, as in February.
The previous month the overall inflation rate in Japan weakened to up to 1.1% compared with March 2017, and also from 1.5% in February.
Earlier, the head of the Bank of Japan Haruhiko Kuroda officially confirmed that the Central Bank is on the verge of sticking with a very soft monetary policy until inflation reaches the key bank’s objective.
The NZD is on a steady rise after the Wednesday strong bullish move, the USD is dropping and the EUR is testing the support level.
The RBNZ kept its interest rate on hold and we are awaiting the releases for the USD and testimony by the Fed Chair Jerome Powell
The Bank of Mexico is expected to cut its interest rate from 7.75% to 7.5% today at 21:00 MT time
Today, the oil prices may move on the release of crude oil inventories at 18:00 MT time.