|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||60.22 - 60.84|
|52 Week Range||51.84 - 64.72|
|PE Ratio (TTM)||159.76|
|Expense Ratio (net)||0.49%|
The Japanese yen (JYN) continued its depreciating trend in the previous week. Risk aversion receded and the US dollar rallied following higher bond yields and commodity prices. Now that geopolitical risks have declined, the demand for the yen as a safe haven will likely be low and could lead to more depreciation.
Asia markets were mixed in the afternoon session on Tuesday while the dollar index edged down from a session high of 91.076. The session in Asia followed after the Dow and the Nasdaq stumbled amid a decline in tech shares. One analyst said the overnight session was marked by "further strength" in the dollar, rises in bond yields and volatility in commodity prices.
Global Markets Are Mixed on April 20, US Market Fell OvernightEconomic calendar 5:30 AM EST: BoE Monetary Policy Committee member Michael Saunders speaks 7:30 AM EST: German Bundesbank President Jens Weidmann speaks 11:15 AM EST: FOMC member John Williams speaks 1:00 PM EST: Baker Hughes’s US oil rig count
The Japanese yen (JYN), a safe haven asset, has failed to appreciate despite an increase in uncertainty in recent weeks. Despite ongoing trade war concerns and the US-led attack on Syrian chemical weapon facilities, the yen fell. In the week ended April 13, the yen (FXY) closed at 107.3 against the US dollar (UUP), depreciating by 0.38%.
Asia ETFs are in the spotlight over potential trade disputes, Trump's bid to rejoin the Trans Pacific Partnership and bilateral talks between Japan and China.
Mixed Global Markets, Improved Risk Appetite on April 17Economic calendar 8:30 AM EST: US building permits (March) 8:30 AM EST: US housing starts (March) 9:15 AM EST: FOMC member Williams speaks 9:15 AM EST: US industrial production (March) 10:00 AM EST: FOMC member Quarles speaks 11:00 AM EST: FOMC member Harker speaks 4:30 PM EST: US API weekly crude oil stock 5:40 PM EST: FOMC member Bostic speaks 7:50 PM EST: Japan’s adjusted trade balance 7:50 PM EST: Japan’s imports and exports
According to a report from Markit Economics, Japan’s services PMI again declined in March as compared to February 2018. It stood at 50.9 in March as compared to 51.7 in February 2018. It was marginally lower than the market expectations of 51.2.
The following key indicators were released last week: US services PMI (purchasing managers’ index) UK services PMI Japan services PMI Germany services PMI France services PMI Spain services PMI Eurozone services PMI Eurozone Sentix investor confidence Series overview
Low Global Market Risk Appetite, Geopolitical Concerns EscalateEconomic calendar 8:30 AM EST: US core retail sales (March) 8:30 AM EST: US NY Empire State Manufacturing Index (April) 10:00 AM EST: US business inventories (February) 12:00 PM EST: FOMC member Kaplan speaks 12:00 PM EST: FOMC member Kashkari speaks 1:15 PM EST: FOMC member Bostic speaks 10:00 PM EST: China’s fixed asset investment (March) 10:00 PM EST: China’s GDP (Q1) 10:00 PM EST: China’s industrial production (March) 10:00 PM EST: National Bureau of Statistics of China Press Conference
Global Markets Are Stable on April 13, Improved Risk AppetiteEconomic calendar 8:00 AM EST: FOMC member Rosengren speaks 9:00 AM EST: FOMC member Bullard speaks 10:00 AM EST: US JOLTs Job Openings (February) 10:00 AM EST: US Michigan Consumer Expectations (April) 1:00 PM EST: US Baker Hughes oil rig count 1:00 PM EST: FOMC member Kaplan speaks
Japan’s manufacturing PMI showed a softer rise in March as compared to February 2018. It stood at 53.1 in March as compared to 54.1 in February 2018. The PMI figure was slightly below the preliminary market estimate of 53.2 and represented the slowest expansion in manufacturing activity since October 2017.
Global Markets Are Weak, Syria Tensions EscalateEconomic calendar 5:00 AM EST: Eurozone industrial production (February) 7:20 AM EST: OPEC’s monthly report 7:30 AM EST: ECB publishes an account of Monetary Policy Meeting 8:30 AM EST: US Import and Export Price Index (March) 8:30 AM EST: US initial jobless claims 2:00 PM EST: Bank of England Governor Carney speaks 5:00 PM EST: FOMC member Kashkari speaks
Global Market Sentiment Improved, Trade War Concerns EasedEconomic calendar 5:30 AM EST: BoE Monetary Policy Committee member Haldane speaks 8:30 AM EST: US PPI (producer price index) (March) 12:00 PM EST: USDA World Agricultural Supply and Demand Estimates report 4:30 PM EST: US API Weekly Crude Oil Stock 9:30 PM EST: China’s consumer price index (March) 9:30 PM EST: China’s PPI
Global Markets Are Strong amid Improved Risk AppetiteEconomic calendar 9:00 AM EST: European Central Bank Vice President Constancio speaks 10:00 AM EST: US CB Employment Trends Index (March) 12:45 PM EST: European Central Bank Executive Board member Praet speaks 7:01 PM EST: UK BRC Retail Sales Monitor (March)
Global Markets Lost Strength, Trade War Concerns ResurfacedEconomic calendar 8:30 AM EST: US average hourly earnings (March) 8:30 AM EST: US non-farm payrolls (March) 8:30 AM EST: US participation rate (March) 8:30 AM EST: US unemployment rate (March) 11:15 AM EST: Bank of England Governor Carney speaks 1:00 PM EST: US Baker Hughes oil rig count 1:30 PM EST: US Fed Chair Powell speaks 7:30 PM EST: Japan’s household spending
In response to the rising yen and global trade war fears, the Bank of Japan bought the largest amount of ETFs on record last month, stabilizing Japanese equity markets. The BOJ revealed it bought 833 billion ...
Global Markets Are Weak, Trade War Concerns EscalateEconomic calendar 9:30 AM EST: FOMC member Kashkari speaks 9:45 AM EST: US ISM – NY Business Conditions (March) 11:30 AM EST: US four-week bill auction 4:30 PM EST: US API weekly crude oil stock 4:30 PM EST: FOMC member Brainard speaks 7:01 PM EST: U.K. BRC Shop Price Index 9:45 PM EST: China Caixin services purchasing managers’ index
Lower Global Risk Appetite, China Announces Import TariffsEconomic calendar 9:45 AM EST: US manufacturing PMI (purchasing managers’ index) (March) 10:00 AM EST: US ISM manufacturing employment (March) 10:00 AM EST: US ISM PMI (March) 6:00 PM EST: FOMC member Kashkari speaks 11:45 PM EST: Japan’s ten-year JGB auction
Interest rates globally are “normalizing”, kickstarted by the U.S. about two years ago when it stopped quantitative easing and started increasing interest rates. Europe is about two years behind the U.S. on this and is showing signs of tightening. The European Central Bank has started reducing its bond purchases, which is a sign that interest rates could turn positive, but it has a trickier market dynamic to navigate.
Global Markets Regained Stability, Risk Appetite ImprovedEconomic calendar 8:00 AM EST: Germany’s CPI (consumer price index) (March) 8:30 AM EST: US core PCE price index (February) 8:30 AM EST: US initial jobless claims 8:30 AM EST: US PCE prices 8:30 AM EST: US personal spending (February) 9:45 AM EST: US Chicago PMI (purchasing managers’ index) (March) 10:00 AM EST: US Michigan consumer expectations (March) 1:00 PM EST: US Baker Hughes oil rig count 1:00 PM EST: FOMC member Harker speaks 7:01 PM EST: United Kingdom GfK Consumer Confidence 7:30 PM EST: Japan’s household spending 7:30 PM EST: ...