The market takes breath after the long rally. What opportunities do traders have today?
Japan's manufacturers are very optimistic in a decade as economy surges
In August, confidence at Japanese manufacturers tacked on to its highest value in nearly a decade led by producers of industrial materials, as a Reuters survey informed, in a further indication of broadening economic revival.
The Reuters' monthly survey, tracking the BOJ’s closely watched quarterly tankan – discovered that the service-sector mood went down, while still staying at a relatively high level, thus underscoring the overall firmness in domestic demand that underpinned robust expansion in the second quarter.
Business sentiment was about to plunge moderately over the next three months, showing a potential pullback from the 4% annualized surge in the April-June quarter powered by private consumption as well as capital expenditure.
In August, the sentiment index for manufacturers rallied just one point to 27 in the survey of 548 large- as well as mid-sized companies. The poll was conducted during the period of August 1-16. Up to 265 companies were responded.
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.