In November, UK factory orders managed to recover, although previously in October they sagged steeply…
Japanese exports go up
Flourishing sales of electronics and vehicles enabled Japan to demonstrate a 14th straight month of surge in January, although manufacturers' business confidence slumped due to fears of the soaring Japanese yen, which heavily affects an export-led recovery in this Asian country.
The trade data emerged following the Reuters Tankan poll, which figured out that the country’s manufacturers' confidence went down abruptly in February, thus indicating global stock market turmoil and also the Japanese currency, which undermines business sentiment.
Such variable gauges actually underscore the whole challenge faced by the Bank of Japan's top management, including newly-reappointed chief Haruhiko Kuroda as well as two fresh deputies because they work on stimulating the Japanese economy, so it could break up with decades of stagnation.
The relatively low mood of Japanese manufacturers in the Tankan poll actually contradicted Ministry of Finance data released on Monday. It showed that in January exports went up 12.2% year-on-year, thus topping the previous month's 9.3% revenue as well as experts’ estimate of a 10.3% jump.
Aside from that Monday's news also followed the previous week’s GDP data, disclosing that the Asian country faced its eighth straight quarter of economic expansion during the period October-December.
A firm currency eats into the country’s industrial revenues and could affect the virtuous cycle of business investment, surge and consumer spending that the Japanese government is hopelessly trying to set in motion.
As manager of a transport equipment maker wrote in the poll, their consolidated revenues have decreased due to a strengthening yen.
Market experts are assured that global demand should keep driving Japanese exports as well as broader economy in the nearer months, despite the ascending yen spoils the outlook.
On Friday, the evergreen buck headed south 0.4% trading at 105.545, which is the lowest value for 15 months.
What are the main topics, which drive the key currency pairs today? Is there a chance for oil to recover? Find out from the news!
In 2019, home prices in some smaller Chinese cities could inch down due to the fact that the world's number two economy speeds down, while the Chinese cabinet is anticipated to step in to withstand any precipitous dive…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…