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Japan's August Exports Rose Year-on-year, Lower Than Market Expectations / The Precious Metals Market Has Suffered A Sharp Decline Due To The August Retail Sales Data In The U.S.

Japan's August Exports Rose Year-on-year, Lower Than Market Expectations

Japan’s August exports rose by 26.2% year-on-year, which was not as good as the market’s expected growth of 34% and the previous value of 37%. However, it was the sixth consecutive month of double-digit growth, mainly due to strong global demand for wafer manufacturing equipment, offset by the impact of reduced car exports in Europe and the United States. During the period, exports to China increased by 12.6% year-on-year, exports to Asia increased by about 26% year-on-year, and exports to the United States increased by about 23% year-on-year. As for imports, the year-on-year increase was 44.7%, which was higher than the market's expectations of 40%. The previous value was an increase of 28.5%. Affected by the rapid increase in imports, the trade deficit for the month was 635.4 billion yen, which reversed the previous month’s trade surplus of 439.4 billion yen. In addition, local household expenditures are still weak, which may be detrimental to the pace of economic recovery in the short term.

The Precious Metals Market Has Suffered A Sharp Decline Due To The August Retail Sales Data In The U.S.

The unexpectedly strong US retail sales in August boosted the yields of the US dollar and U.S. Treasuries, and damped the entire precious metals market. The price of silver hit its biggest one-day drop in three months, and now it has focused its attention on the annual support level, which is currently oscillating at a low of 22.94. The bulls’ concern about a correctional correction continues to intensify. Gold hit its biggest one-day drop in 6 weeks, reaching $1,754.69. Market analysis believes that, in an environment where a wide range of integrated commodities is once again rising, the market's confidence in precious metals is quite weak. Retail sales in the United States rose 0.7% in August, while Dow Jones is expected to fall by 0.8%, the previous value is down 1.1%. But the data is actually mixed. The number of people receiving unemployment benefits in the United States rose slightly to 330,000 at the beginning of last week, slightly higher than market expectations and previous values. However, the August retail sales data was higher than expected, indicating that demand for goods is still strong. Pay attention to the Fed's monetary policy meeting next week.


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