
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
In February, Japan's industrial production managed to rebound from a huge dive in January and companies foresee further leaps in the nearer future. That’s an obvious sign that factory output will get back to expansion soon.
In February, factory output tacked on 4.1% from January, which is less than experts’ median estimate of a 5% jump, although reviving from an updated 6.8% dive in January, as trade ministry data demonstrated on Friday.
The jump was mostly led by higher output of vehicles, semiconductors and construction equipment.
Manufacturers polled by the Trade and Industry and the Ministry of Economy expected output to edge up 0.9% this month, while April is believed to offer a 5.2% ascend.
In February, separate data disclosed that labor demand slumped a bit and the jobless rate soared in February, although the labor market is anticipated to stay tight because of a shortage of employees.
Revenues in industrial output drop a hint that January's weakness turned to be temporary, while the Japanese economy is still braced for extending its record surge marathon because of firm exports as well as strengthening domestic demand.
In February, output of engines, vehicles as well as car parts inched up 10.3%, which is the fastest rally since April in 2017.
In February, output of construction equipment along with factory machinery tacked on 3.6%, while output of semiconductors as well as electronic parts edged up 4.8%.
The jobs-to-applicants ratio headed south to 1.58 versus January’s outcome of 1.59, which appears to be the highest result for 44 years. As for the jobless rate, it managed to rally to 2.5% in February from January’s result of 2.4%.
Exports, consumer spending and capital expenditure have assisted in driving surge in Japan.
Market experts told that this year consumer spending could potentially lose some momentum, although they guess exports would stay firm due to sustained demand worldwide.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
The British monthly GDP is announced on Friday at 09:00 MT time.
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted
Manager will call your number
Next callback request for this phone number
will be available in {time}
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.