Friday Trades: EUR/USD, USD/JPY, and Gold
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
Japan manufacturers' mood goes down amid global uncertainty
In September, Japanese manufacturers' confidence declined for the first time for four months from last month’s decade-high level and it was supposed to dip further, suppressed by global uncertainty, as a Reuters survey disclosed.
The monthly survey, tracking the Bank of Japan's closely monitored quarterly tankan, discovered that the service-sector mood boasted its best outcome for more than two years, contributing to recent signs of revival in private consumption.
Versus three months ago, the Reuters Tankan's sentiment indexes for manufacturers as well as service sector companies was mostly intact, pointing to a firm reading in the key bank's approaching tankan due on October 2.
Firm tankan outcomes would back the BOJ's positive view on Japan's economy, supposed to continue its moderate surge having reported the sixth straight quarter of expansion through June.
As the BOJ's last tankan disclosed, in the June quarter big manufacturers' business confidence reached its highest value in more than three years.
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