On Monday, USDJPY is trading upwards; investors don’t’ require “safe haven” assets right now.
The Japanese Yen is retreating against the USD on Monday. The current quote for the instrument is 110.76.
This morning, Japan reported on several; indicators from Tankan. The Manufacturing Index decreased up to 21 points in the second quarter 2018 after being 24 points the quarter before. One should note that the indicator has been falling for the second consecutive quarter after reaching the highest level over the last 13 years at the end of 2017.
One should admit that it’s quite logical to expect some kind of decline after such significant growth. Among the risks for enterprises and production facilities are insufficient labor force and constantly increasing prices on factory supplies.
As a rule, investors pay attention to the Tankan reports, but do not take them as a major indicator. However, there won’t be many statistics from Japan this week, that’s why market players have to take into account what they have.
There are no high risks on the currency market right now, so investors don’t really need “safe haven” assets. Neither the USA’s intention to give up on the World Trade Organization rules nor oil sector imbalance worries market players a lot.
Orgin: RoboForex
