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A woman visits an electronic trading company in Tokyo on Monday, July 2, 2018. A central bank survey released on Monday showed that Japanese business prospects had deteriorated for the past three months, highlighting fears of this. economy dependent on exports. on trade tensions. (Koji Sasahara / Associated Press)
WALL STREET: The leading US benchmarks ended up higher on Friday. The S & P 500 index rose 0.1% to 2,718.37 and the Dow Jones Industrial Average 0.2% to 24,271.41. The Nasdaq composite added 0.1% to 7,510.30. LOW CHINESE DATA: China's manufacturing activity slowed in June, adding to concerns that the economy is cooling due to tighter government controls on lending. The National Bureau of Statistics Purchasing Managers Index, released on Saturday, went from 51.9 on a 100-point scale to 51.5. Numbers greater than 50 show acceleration. Exports, which support millions of manufacturing jobs, have declined in proportion to the Chinese economy and contribute less than 1% of annual growth. On Monday, the Chinese Caixin Manufacturing PMI reached 51.0 in June, down slightly from 51.1 in May
US-CHINA TARIFFS: The United States imposes a 25% tariff on Chinese products until the end of the year. 50 billion dollars. . In response, China will increase import duties on $ 34 billion worth of US goods. On Sunday, Canada began paying billions of dollars in retaliation against the United States, as part of a tacit response to the Trump administration 's obligations to steel and steel. Aluminum in Canada. Items include ketchup, lawn mowers and motor boats. Some items will be subject to taxes of 10 or 25 percent. The United States has also been confronted with responses from the European Union. Harley-Davidson, iconic manufacturer of American motorcycles, will move its production overseas to avoid the tariffs that the European Union imposes on American motorcycles
TANKAN OF JAPAN: A survey of the central bank shows that the prospects of the Japan have worsened for three months. its export-dependent economy of trade tensions. The Bank of Japan's "tankan" survey, which measures the confidence of major manufacturers, stands at 21 points, down 3 from the March survey, the first decline in two years. Manufacturers surveyed include automakers and electronics companies who are the mainstay of the Japanese economy
ANALYST'S TAKE: "There is some caution about the imposition of Tariffs this weekend.Taken together, the weaker than expected data give the markets some leeway to know if Trump's protectionism has infiltrated into the real economy, "Song Seng Wun said. , economist at CIMB Private Banking.
ENERGY: Trump claimed that increasing oil production by "perhaps up to 2,000,000 barrels" in response to the turmoil in Iran and Venezuela. higher than the 1 million barrels a day increase on which the OPEC countries have agreed, leading to a decline in oil futures. reference fell 64 cents to $ 73.51 per barrel in electronic exchange on the New York Mercantile Exchange. The contract gained 1% to 74.15 dollars a barrel in New York on Friday. Brent crude oil, used for international oil prices, fell 92 cents to $ 78.31 in London.
CURRENCIES: The dollar slipped to 110.70 yen, against 110.74 yen at the end of Friday's session. The euro has weakened to $ 1.1647 from $ 1.1695
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