The market sentiment is mixed. Let’s look at most interesting movements on the market today.
Japanese first quarter GDP is caught revised up on soaring capital expenditure
Japan's economy was supposed to have expanded more rapidly during the first quarter than initially assessed, buoyed by revenues in corporate capital spending, as a Reuters survey disclosed on Friday.
During the first quarter economic surge was seen at an annualized 2.4%, revised up from a preliminary forecast of 2.2%, as the median prediction of up to 18 experts demonstrated.
It translates into 0.6% surge from last quarter, moderately up from the 0.5% profit observed in preliminary data.
The survey discovered that capital spending was about to ascend 0.5% during the first quarter, soaring from a preliminary evaluation of 0.2%.
The revised data’s supposed to affirm an export-led revival in Japan underpinned by a pickup in the global economy, though households is still cautious over spending, considering sluggish wage surge.
Financial experts expect the Japanese economy to keep ascending in the current quarter due to sturdy offshore demand, though risks from some Trump administration policies and also in the Chinese economy are still actual.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.