Markets Remain Calm, US Dollar Recovers
The last session of the week in financial markets began relatively calmly. In the absence of important news and data, the main currency pairs are consolidated in narrow ranges, oil prices are held in the area of three-year highs, and stock indices continue to indicate a predominance of optimistic sentiment.
The US dollar is recovering from yesterday's decline on weak data according to the CPI. The Canadian dollar remains the strongest in a week in anticipation of today's data on employment. The British pound remains unsustainable, after the latest decision on the interest rate of the Bank of England. WTI oil reached $71.89 earlier, and remained stable at the level of $71.25.
The manufacturing sector in New Zealand continued to expand in April and at a faster pace. The index of business activity of the manufacturing sector from BusinessNZ rose to 58.9 in April after rising to 52.2 in March. The indicator moves much further than level 50, which separates the expansion from the contraction.
Haruhiko Kuroda (Governor of the Bank of Japan) called on the Japanese government to step up its growth strategy for the trade to increase the country's growth potential. Kuroda also acknowledged that the government has made significant progress in reforms to correct Japan's deteriorating financial condition, albeit with some delay. Nevertheless, Kuroda said that there is still much work to be done on deregulation and structural reforms.