Fears of a China-led global downturn dampen Japan's business outlook
|According to Reuters, confidence among major Japanese manufacturers has dropped the most in eight months, while morale in the services sector has also fallen amid concerns that a slowing Chinese economy would drag on global and domestic growth, a Reuters poll for September showed on Wednesday.
Key Quote
"Our business conditions are not so good due to uncertainty surrounding the global economy such as geopolitical risks stemming from a prolonged war in Ukraine and rising tension between U.S.-China frictions,”
"Overseas markets, particularly in China, are slumping and domestic demand is also languishing,”
Market reaction
The above statement fails to move the needle around the Japanese Yen. USD/JPY is trading at 147.10, up 0.01% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.