OPEC Meeting and The US Dollar Are in Focus Today
BoJ started currency interventions and the US bond yield is on its maximums. What's going on in the markets? Check our review.
Japan's exports bounce off in October, powered by American car imports
In October, Japan's exports rebounded, reversing from September’s steep dive because US-bound auto shipments rallied, although decelerating global demand along with the intensifying US-China trade conflict worsened the outlook for export-reliant Japan.
The Ministry of Finance data uncovered on Monday disclosed that exports rallied by 8.2% in October from 2017, which is a bit below a 9% leap anticipated by financial analysts in a Reuters survey.
The export surge followed an updated 1.3% annual sink in September that experts told was provoked by natural disasters, which forced a closure of an international airport and also heavily affected factory output, not to mention distribution of goods as well as inbound tourism.
Monday's trade news showed up after GDP data released the previous week, which revealed that Japan's economy, the world's number three one, dived more than anticipated in the third quarter, impacted by the natural disasters as well as sluggish exports.
While the Japanese economy is anticipated to get back to surge this quarter as temporary effects from natural disasters fade away, Japanese policymakers are still wary about the total economic impact of global trade friction as well as decelerating external demand.
According to Monday's trade data, exports to China, which is Japan's key trading partner, headed north by 9% in the year to October mainly led by car engines, vehicles and also plastic raw materials, after September’s sink.
Shipments to Asia, accounting for more than half of Japan's total exports, managed to add 7.3%.
In addition to this, in the year to October, Japan's exports to the United States surged by 11.6%, led by car shipments. US-bound car exports froze at 154,085 cars, adding 3% year-on-year, soaring for the first time for five months.
In the year to October, overall imports surged by 19.9%.
Similar
BRICS, Jackson Hole, and the JPY are in Focus
The week was overfilled with events, especially from the BRICS summit and Jackson Hole meeting. Altogether, the market gained some fantastic opportunities. Here’s what we have for today’s session:
The EUR and Bitcoin are in Focus Today
Hi, and welcome to the daily newsletter by FBS. The market is active, and we have plenty to share with you!
Latest news
The Yen Sets New Lows
The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!
Experts are Waiting for US Stocks to Rise
The US stock market fell in the third quarter. What's going on and why economists think that the last quarter will be better? Let's discuss it all here.
BlackRock CEO Supports The USD
BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!
