Daily News | Sector news from the US

Today, we are continuing our coverage of the most important news stories of the day that could influence the economies of the world. Consequentially, they can also influence your bottom line on the currency market! This Tuesday, we took special care to look at the Asian markets with the Japanese yen. From Friday to Monday, this currency rose from $0.00904 to $0.00905. The Nikkei’s average on Monday barely changed at all, as it continued to keep close to 22-month highs, with the yen’s overall rise against the dollar faltering. Construction company shares did surge, however, alongside rental company Kanamoto Co. The market ended up at 20,170.82, 0.03% lower than last week. We will continue to look into the Japanese economy, but let us now turn to the US dollar. In the same timeframe, the USD rose from €0.8872 to €0.8883. Despite of this rise, it seems that the US services sector activity slowed in May, with new orders tumbling. Even the non-manufacturing activity index fell six-tenths of a percentage to around 56.9 points. With a reading above 50 indicating an expansion in the sector, accounting for more than two-thirds of the US economy. We will continue to follow the news tomorrow, so be sure to head on back here for all your market data!

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Author: Max Rothstein
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