Daily News | All eyes on Japan

In the Far East, after the elections, the predicted financial stimulus by the Japanese government was speculated to be up to 10 trillion yen. Now, after Prime Minister Abe has been elected, the fiscal package is anticipated to reach at least 20 trillion yen. Frederic Neumann, co-head of Asian economic research at HSBC in Hong Kong, gave a statement on Friday saying that anything except helicopter money is currently possible in Japan. Meanwhile, the U.S. dollar is still going up against the yen – around 0.3 percent at 106.10 yen. Furthermore, the Bank of Japan has suffered another blow, this time concerning consumer prices. The expected rise is 1.4 percent for fiscal 2017, well below the 2 percent target they set up for the fiscal year ending in March 2018. Also, on July 25th, trade balance data report is expected to show exports fell 11.6 percent in June as opposed to last year.

Down in the southern hemisphere, the Reserve Bank of New Zealand is facing difficulties. They are trying to ease their policy, and to do so, had to expand their macro LVR restrictions nationwide. Meanwhile, the European markets are stabilizing. The latest Purchasing Managers’ Index (PMI) surveys in the euro zone are finally showing optimistic results, just as we predicted yesterday, and the pound rose higher against both euro and dollar. Lastly, the euro rose slightly against the U.S. dollar at $1.1022.

Daily News | Trade Today

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