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Earlier in the Day:

It was a relatively busy start to the day on the economic calendar this morning. The Japanese Yen was in action this morning. Later this morning, finalized industrial production figures from Japan are also due out. Barring a marked revision from prelim figures, however, the numbers should have a muted impact on the Yen and the broader market.

For the Japanese Yen

Trade data was in focus this morning.

In March, the trade surplus widened from ¥215.9bn to ¥663.7bn. Economists had forecast a widening to ¥490.0bn.

According to figures released by the Ministry of Finance,

  • Exports surged by 16.1% to reverse a 4.5% decline from February. Economists had forecast an 11.6% increase.
    • Exports to China jumped by 37.2%, with exports to Western Europe rising by 8.5%.
    • To the U.S, exports rose by a more modest 4.9%.
  • Imports rose by 5.7%, year-on-year, following an 11.8% jump in February. Economists had forecast a 4.7% increase.
    • Imports from China rose by 10.0%, with imports from Western Europe rising by 19.4%.
    • From the U.S, imports rose by 6.5%.

The Japanese Yen moved from ¥108.702 to ¥108.690 upon release of the figures. At the time of writing, the Japanese Yen was up by 0.14% to ¥108.65 against the U.S Dollar.

Elsewhere

At the time of writing, the Aussie Dollar was down by 0.18% to $0.7720, with the Kiwi Dollar down by 0.11% to $0.7134.

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The Day Ahead:

For the EUR

It’s a particularly quiet day ahead on the economic calendar. There are no major stats from the Eurozone to provide the EUR with direction.

The lack of stats will leave the EUR in the hands of COVID-19, vaccination rates, and any plans to ease containment measures.

At the time of writing, the EUR was down by 0.32% to $1.1945.

For the Pound

It’s also a particularly quiet day ahead on the economic calendar.

There are no material stats due out of the UK to provide the Pound with direction.

A lack of stats would leave the Pound in the hands of market risk sentiment on the day.

At the time of writing, the Pound was down by 0.11% to $1.3817.

Across the Pond

It’s a quiet day ahead on the economic calendar. There are no material stats to provide the Greenback and the broader markets with direction.

The lack of stats will leave chatter from Capitol Hill and U.S foreign policy in focus. A rise in geopolitical tension between the U.S and China and the U.S and Russia needs monitoring.

From the weekend, news of new COVID-19 cases rising by a record number last week delivered Dollar support early on. The latest surge in new COVID-19 cases comes amidst the ongoing vaccination programs that had delivered market optimism in recent weeks.

At the time of writing, the Dollar Spot Index was up by 0.20% to 91.735.

For the Loonie

It’s another quiet day ahead on the economic calendar. Housing start figures are due out later today.

Barring particularly dire numbers, however, we don’t expect too much influence from the stats.

Expect market risk sentiment and COVID-19 vaccine news to remain the key areas of focus.

At the time of writing, the Loonie was down by 0.10% to C$1.2521 against the U.S Dollar.

For a look at all of today’s economic events, check out our economic calendar.

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