Daily Update - 23rd May 2017
It was a relatively quiet day in the FX market, however The Merchandise Trade Balance for Japan which shows the total balance amount between import & exports which could indicate either a trade surplus or deficit. According to reports, Japan’s numbers show a trade deficit as their imports are greater in comparison to their exports. Brent oil price clocks fresh one month high in Asia of 54.04 per barrel as the Opec meeting will likely extend supply cuts on Thursday as most producers are supporting Russia and Saudi’s proposal to extend oil cuts till the next March. The day is filled with moderate data coming in from main Europe and US. We will be looking at the IFO reports that will be coming out for Germany where it will be analyzing the current conditions & business expectations for future period of 6 months in Germany. This event is soon after followed by the Markit PMI reports from both Euro Zone and the United States which will be focusing on the manufacturing sector as well as the employment and sales of the Euro Zone. Yesterday’s Focus:
Today’s Focus:
