Analytics / Forex News
JPY: Merchandise trade surplus widens to $427bn in April – Deutsche Bank Sandeep Kanihama
09:46 23 May /2016 Forex
Research Team at Deutsche Bank, notes that Japan’s customs trade for April revealed a further rise in the seasonally-adjusted trade surplus to JPY426.6bn, up from March’s JPY295.3bn.
“But with declines in both export volumes (-1.4% mom vs. 1.5% in March) and import volumes (-2.9% mom vs. 0.1% in March). The underlying trend in export volumes remained roughly flat. By destination, export volumes rose 0.4% mom to the US but shrank 4.8% mom to the EU and 1.0% mom to Asia (-0.6%).
The trade surplus, excluding mineral fuel imports, has been stable since 2013 (JPY1.27trn in April). A large part of the improvement in the trade balance since 2014 is due mainly to the falling oil prices. The import volumes of crude oil dropped -30.1% mom in April, following a 12.4% mom surge in March.”
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The USD/CHF pair staged a goodish recovery on Monday and has now reversed its previous session losses to one-month low.Currently trading around 1.0120 region, 15-pips off session peak level of 1.0136, a broad based 15:46 16 January /2017 Forex
Research Team at Danske Bank suggests that while transparency is low behind the recent CNH move at the start of the month and presents their take on the move below.Key Quotes‘China has been very concerned about rising outflows and feared an acceleration in January a
15:23 16 January /2017 Forex