- European markets remain close for Easter Monday holiday. - Last Friday, Fed's Chair Powell following release of PCE deflator data said Fed is not under pressure to cut rates, but waiting too long could mean unneeded damages to the economy and the labor market; US jobs report for March set to be released this Friday.
The latest Tankan survey results in Q3 showcased strengthening corporate sentiment in Japan. Key indices and outlooks, along with projections for capital expenditure, underscore a robust business environment, as inflation expectations maintain steadiness.
USD/JPY is making notable advances today, resuming recent up trend, and edging closer to 150 psychological handle. AT the same time, Nikkei rebounds, reclaiming 32000 mark. The combined risk-on sentiment could be attributed to investors' positive response to the optimistic quarterly Tankan survey results, overshadowing the less favorable PMI Manufacturing data.
Dollar is experiencing a broad rise today, buoyed by an uptick in treasury yields and risk aversion sentiments. The US Congress averted potential economic turbulence by passing a stopgap funding bill over the weekend, ensuring the federal government doesn't enter its fourth partial shutdown within a decade. However, this positive momentum in US futures was fleeting. This strengthening of Dollar is mirrored by decline in Gold and Silver, both plunging to their lowest levels since March.