With notable appreciation of the yen began the first session of the week after the Japanese Ministry of Finance published calculation of the trade balance of the country in the past month. Investors with relief accepted the latest estimate of the Japanese manufacturing PMI. What is the situation on the market in the morning and what to pay attention during today’s trading?

As much as 498 billion yen – was Japan’s trade surplus in September this year. This result is noticeably better than the earlier forecast of 342 billion yen and definitely better than the previous publication -19 billion yen. For such good news responsible is considerable increase in Japanese exports to the level of -6.9% YoY (the market expected a decline of 10.8%). Imports to the Land of the Rising Sun did not differ drastically from market forecasts (-16.3% compared to -16.6% YoY). Yen during the hours of the night definitely raised on value against the dollar. This advantage has hesitance when trade joined Europe. Currently USD/JPY on a delicate plus:

What else awaits us?

In the afternoon, we will focus primarily on the Canadian report on wholesale trade (+0.3% previously, now forecast at +0.6%). Published online at 14:30. Half an hour later, at 15:00 FOMC member, William Dudley will deliver a word of welcome during the conference concerning Treasury securities market in New York.

Almost simultaneously, at 15.05 James Bullard, the head of the Fed in St. Louis will give a presentation on topics related to economic and monetary policy at a conference organized by the Association for University Business and Economic Research (AUBER).

About 15:45 will be published estimated October manufacturing PMI index for USA. Forecasts are – slight increase to 51.6.

The day will end with two speeches. At 20:00 there is a member of the FOMC, Jerome Powell, at 21:30 BoC Governor Stephen Poloz.