The policy announcement sent the yen rising and pushed stock futures lower. The central bank said "Japan's economy has been picking up" and "exports have started picking up," after saying at its last meeting on May 22 that the economy "has started picking up" and "exports have stopped decreasing." It also said "some indicators suggest a rise in inflation expectations."
Australia resumed trading after closing on Monday for a public holiday, getting its first chance to react to the events that influenced the previous session — namely, last week’s forecast-beating U.S. nonfarm payrolls data and disappointing Chinese economic data that came out over the weekend.
Markets in mainland China remained closed for a three-day public holiday, though Chinese companies listed in Hong Kong remained weighed by the poor economic data out over the weekend. The Hang Seng China Enterprises Index was down 0.5% and the Hang Seng Index was off 0.5%.
Gold for August delivery is trading down $ 3.2 at $ 1382.8 per ounce on the New York Mercantile Exchange. It ended with a gain of $3 an ounce, or 0.2%, at $1,386 yesterday.
Gold and other precious metals entered the week on the back foot after last week’s U.S. employment data. Also casting a cloud over gold futures, China over the weekend released a round of weaker-than-expected economic data that indicated growth slowed in May.
MCX August gold futures may open today’s session near Rs 27940 levels with support around Rs 27850- 770 levels.
Source by Commodity Insights
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