The US dollar’s weakness offered a boost to emerging-market currencies and oil.
Japan February exports are seen surging at fastest pace since 2015
In February, Japan's exports probably ascended at the fastest pace for two years due to a softer yen as well as improving global demand, as a Reuters survey showed on Friday.
However, uncertainty over probable trade protectionist moves by America is still clouding revival prospects for the world's number three economy.
In February, exports leaped 10.6% from a year earlier, which would be the biggest revenue since January 2015 when they inched up 16.9%.
The number were probably flattered by a rebound in Asian demand after Japan's shipments tumbled in January because of the long Lunar New Year holidays in China as well as other parts of the region. Apparently, in January, shipments had soared 1.3%.
Imports acquired 0.6% from a year earlier, dipping steeply from the surge of 8.5% in January, which marked their first growth in two years.
It’s expected to produce a trade surplus of 822.0 billion yen, compared with January’s outcome of 1.09 trillion yen, as the survey of 20 analysts revealed.
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.