Market outlook for this week
Jump in to know the key market events and trading ideas for this week!
The index of business activity in the manufacturing sector of Japan soars in April
In April, Japanese manufacturing activity rose at a faster tempo than the previous month, as the final results of the Nikkei survey disclosed today. As a matter of fact, new orders increased in sign of the Japanese economy reviving from the expected considerable decline in the first quarter.
Nevertheless, the growth of new export orders has speeded down abruptly due to a stronger yen, thus generating extra risk for the Japanese export sector of the industry, even when global trade tensions are rising.
The final index of purchasing managers in Japan from Nikkei rose to 53.8 in April, taking into account seasonal fluctuations, versus an average of 53.3 as well as a final of 53.1 in the previous month.
The index remained above the value of 50, which separates the expansion from the contraction for the 20th month in a row and also grew in three months for the first time.
As some market experts pointed out data for April indicate a resumption of the acceleration of the surge of the Japanese industrial sector. However, the subcomponent of the index of new export orders has considerably headed south, although it remained on the territory above 50, to indicate only the marginal growth rates.
The final index for all new orders accounted for 53.8, which appears to be more than the preliminary 53.5 as well as the final 53.1 in the previous month, although the growth of export orders has speeded down abruptly only to the marginal levels.
The Japanese yen has risen by up to 3% since the beginning of the year against the evergreen buck, and some economists have expressed concern that Japan's exports might weaken if the Japanese yen jumps, as it pushes up export prices.
Similar
Fears over no-deal Brexit pushed GBP down
All attention on the market is on the Brexit process. Fears over the no-deal Brexit pushed the British pound deep down yesterday after UK Prime Minister Boris Johnson claimed he was ready to abandon negotiations.
Cautious optimism on Friday
All the interesting market movements are here!
Latest news
USD strengthened as optimism waned
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
Stocks up, USD down
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
Lots and lots of PMIs on Friday
PMI reports from the EU, the UK, and the USA will be released during the day!
Deposit with your local payment systems
