The US Parties Lead the Country to a Default
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
Japan retail sales surge speeds down
In September, Japan's retail sales headed north for an 11th consecutive month from 2017, although the tempo of gains speeded down from August. That’s an indication that private consumption might not be firm enough to avert a broader deceleration in economic surge.
The trade ministry's report actually followed data that disclosed a sudden sink in exports in September, increasing the specter of a marked moderation in economic surge in July-September from the prior quarter's firm expansion.
Financial experts expect the third-quarter deceleration to be temporary, provoked by a bunch of natural disasters, which disrupted business as well as consumer activity for recent months.
However, the softer surge will contribute to greater fears about the key financial institution’s ability to meet its 2% annual inflation objective.
The Bank of Japan is going to examine the data as well as coming indicators, including factory output along with jobless figures at its board gathering this week, exactly when the major bank updates its inflation and growth projections.
September's 2.1% annual leap in retail sales managed to surpass the Reuters median estimate for 1.6%, as trade ministry data disclosed on Monday. Nevertheless, it appeared to be slower than the 2.7% expansion recorded in August.
September's profits were led by soaring gasoline prices as well as brisk sales of food, machine tools, not to mention clothing and beverage purchases, while car sales dived and online retailers faced a tumble.
On a seasonally updated basis, in September, retail sales lost 0.2% from the previous month, in contrast with a 0.9% jump in August.
Private consumption, making up nearly 60% of economic activity, appears to be key to the BOJ’s efforts to ramp up inflation to its 2% objective.
The Japanese economy managed to rally an annualized 3% for the second quarter, which is the fastest tempo observed since 2016. It became possible due to firm household as well as business spending.
Similar
The Sentiment is Bearish for the EUR
The US Consumer sentiment will shake the market today. We are back with more news for you to enjoy!
CPI Wednesday: the Doomsday for EURUSD and GBPUSD?
Today, the US Inflation release at 15:30 GMT+3 will determine the further destiny of the major pairs and gold. The event is highly impactful, as the Federal Reserve will make decisions regarding further rate hikes based on it. Also, we brought you some news about XAUUSD and GBPUSD. Stay tuned!
Latest news
Oil prices are in focus today
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
Nonfarm Payrolls is in Focus Today
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
No More US Debts in Sight
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
