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Japanese exports rebound in October
In October, Japan's exports rebounded following dives provoked by a series of natural disasters. That’s what a Reuters survey disclosed on Friday. However, fears over global demand as well as the US-China trade conflict still pressure.
Exports were anticipated to leap by 9% in October from 2017. That’s the fastest tempo of gain since January, according to the interview of 16 financial analysts. In September, they dived by 1.3%.
As for imports, they rallied by 14.5% from 2017, providing a trade deficit of up to 70 billion yen.
Financial analysts told that the overall tempo pace of expansion in global trade is currently decelerating and Japan’s exports surge has appeared to be quite sluggish. However, they’re assured that adverse impacts from natural disasters diminished.
Notwithstanding the fact the American economy is firm enough, but the economies in other areas are slumping, thus impacting global trade, including Japan's exports.
The finance ministry is expected to uncover the trade data at 8:50 a.m. on November 19.
In addition to this, the survey also disclosed that the nationwide core consumer price index without fresh food prices, but with fuel costs managed to head north by up to 1% in October from 2017. That’s a steady outcome from September.
Besides this, financial analysts added that leaps in crude prices till September probably assisted to ramp up costs of energy-related items, although those weren’t firm enough to have the core CPI underpinned.
Furthermore, the Japanese government is expected to uncover the CPI data on November 22 at 8:30 a.m.
As a matter of fact, Japan's economy headed south more than anticipated in the third quarter, affected by natural disasters as well as a dive in exports. That’s a worrying sign that trade protectionism is starting to heavily impact overseas demand.
The US inflation will come out today at 15:30 GMT+3. Traders can’t wait to see the numbers as they will impact all the pairs with the USD!
Microsoft and Google have published strong earnings data. The main focus of traders is on the Fed meeting today.
US PCE Price Index will be out on Friday at 15:30 MT.
Microsoft joined Apple in the $2 trillion dollar club! Follow PMI reports from the US, UK, and EU throughout the day!
The Bank of England will release its statement and announce its monetary policy decision on June 24 at 14:00 MT.