The market takes breath after the long rally. What opportunities do traders have today?
Japan's May exports soar at the fastest pace in two years
In May, Japan's exports inched up at the fastest pace in more than two years, following huge shipments of vehicles and steel. That’s an encouraging sign that sturdy overseas demand will underpin economic surge.
The 14.9% annual soar in exports in May stood below the median estimate for a 16.1% annual surge. Nevertheless, it appeared to be the greatest leap since January 2015.
Exports are about to continue ascending at a steady clip because overseas economies demonstrate bullish signs of strength that should help the Japanese economy to extend its recent run of sturdy expansion.
Exports of vehicles as well as car parts ascended partly due to an earthquake in Kumamoto the previous year, which temporarily ceased production of these goods.
Japan's exports to America edged up 11.6% in May from last year, which is the fastest soar since July 2015, due to a leapt of shipments of cars and auto parts.
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.