Сonflict in Eastern Europe: Breaking Point
What happened? On Monday, February 21, Russian President Vladimir Putin signed decrees recognizing the sovereignty of the Donetsk and Lugansk People's Republics…
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
Will USD Stop Falling Today? Market Wrap
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Bitcoin Rallies Up, USD Takes Breath
The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
Latest news
What Will Bring the Core PCE Price Index Release?
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The Big Release for the USD
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
Will New Zealand’s Central Bank Boost the NZD?
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
