Japan’s PMI fell to its lowest level since February.

Japan's PMI fell to its lowest level since February.

Japan’s PMI fell to its lowest level since February.


Japan’s business activity index fell in August,
indicating weak momentum needed to help the world’s third
-largest economy weather a gradual recovery.



In the Japanese services sector

The cryptocurrency market awaits Jackson Hole data in light of market turmoil.

Weak economic data causes the White House to lower its forecast for economic growth in 2022.









In the Japanese services sector

“O Jibon” Bank, the Purchasing Managers’ Index fell to 49.2 points,
the lowest level since February, as it fell below the 50 mark,
which is the difference between the contraction and growth phase.


An important indicator in the manufacturing sector, the PMI in the country,
also fell to 51, the lowest since January of 2021.

The Japanese economy continues to suffer and is struggling to gain more momentum,
especially at the present time,
with daily cases of the Coronavirus rising to new record levels during this month,
which in turn increases consumer concerns regarding spending and thus its impact on the service sector.


Meanwhile, households in Japan are facing a decline in real wages
as inflation has risen to its highest levels since 2008,
with the exception of years of tax hikes,
which led to the prime minister’s call for his pledge to curb price increases.



And in a report written by the economist at “Standard & Poor’s Gopal” Osama Bhatti
that the biggest concerns among Japanese private sector companies
were related to the impact of the war in Ukraine,
and inflationary pressures due to the high costs of raw materials and
energy and the global economic slowdown.



This also comes in light of expectations published by the Cabinet Office
on Monday that Japan’s gross domestic product grew by 2.2% in the second quarter of this year,
and indications of the recovery of the Japanese economy,
which is the third largest in the world,
as consumer spending rebounded after the end of restrictions.
imposed on companies to combat the spread of Covid.


Economists expect Japan’s growth to remain moderate until the end of this year,
and then slow as the months go by. For the third quarter,
analysts expect annual gains of about 3.2%.


artical name Japan’s PMI fell to its lowest level since February.







The cryptocurrency market awaits Jackson Hole data in light of market turmoil.


Investors and speculators are turning their attention to Jackson Hole data tomorrow,
Thursday, and this comes in light of the strong turmoil in the cryptocurrency market,
as well as violent statements by some Federal Reserve members
who are trying to reset the highly optimistic market expectations.


Cryptocurrencies are also affected by the movements of the stock market,
as the market witnessed a decline after it had gotten rid of the highs
it had recorded against the backdrop of the upgrade of the Ethereum currency,
which pushed the currency to rise by about 100% since it was announced.


The cryptocurrency market is still maintaining its market value above one trillion US dollars,
but with the approach of winter,
caution begins a little with weak sideways movements of the Bitcoin currency,
which recorded a decline of fewer than 21 thousand dollars at the end of last week.



With expectations of continued monetary tightening policy by the Federal Reserve,
which causes a loss of risk appetite among investors,
and liquidity is withdrawn from the cryptocurrency market to the money markets
in the form of dollars and US Treasury bonds that protect against inflation. risk


As for the European levels,
we see that the Russian war on Ukraine with the energy crisis and the climate crisis,
in addition to the blatant inflation that hits everyone,
also has the same effect on the cryptocurrency market
Bitcoin maintained its support level at $20,000 per coin
despite the turmoil in the cryptocurrency market.


Betting on cryptocurrency is still valid


Despite the recession and fear that dominates traders in the cryptocurrency market
in light of rapid price fluctuations
Whereas, DBS Group Holdings said that its Bitcoin trading has increased despite
the decline in the global market and that Bitcoin on the digital exchange has more than
doubled in June compared to the last two months.


Speaking about the recent developments, the bank’s CEO spoke of “investors today are looking
instead for safe havens and storage of digital assets amid the ongoing market volatility.”



Bitcoin fell in trading today, Wednesday, to levels of $21.4 thousand,
but it still maintained its stability and fluctuated between levels of $21.5 thousand
and levels of $20.9 thousand.


Bitcoin recorded a violent downward wave of declines starting on August 18,
when it fell from the levels of $23,000, and by the end of August 19,
it settled above $20.8 thousand.


The market value of Bitcoin also decreased in the range of 50 billion dollars in the last 5 sessions,
to levels of 410 billion dollars.


artical name Japan’s PMI fell to its lowest level since February.






Weak economic data causes the White House to lower its forecast for economic growth in 2022.


According to data released on Tuesday, US new home sales decreased for the sixth consecutive year,
at their slowest rate since 2016,
and business activity decreased for a second consecutive month.
Traders were waiting for more information on the Federal Reserve’s monetary policy
direction to emerge from the annual central banker’s seminar.


After recent pronouncements from officials that persuaded many investors that
the Federal Reserve will continue to tighten until the economy slows,
the hardline discussion on Jackson Hole’s effectiveness will take place later this week.

“For now

global sentiment is volatile with no reason to be optimistic in the short term,
and no glimmer of hope sustainably taking hold,” said Richard Hunter,
Head of Markets at Interactive Investor.


There are internal pressures from some Federal Reserve managers that indicate
that the quantitative tightening resorted by the central bank will continue during the next month.



US stocks were affected, as the S&P 500 index witnessed its third decline in a row,
while the 10-year Treasury bond yields exceeded 3%
and the dollar stopped its rise that continued during the last 4 days.



The White House

had slightly lowered its forecast for real GDP growth for the current year 2022,
from 3.8% in March estimates to 1.4% at present.


He also added that there were several reasons behind the slowdown,
including high-interest rates and the war in Ukraine,
in addition to the emergence of the Omicron mutant of Covid-19.


The White House lowered its inflation forecast for the current year from 2.9 in March to 6.6%,
while lowering the unemployment rate for 2022 from 3.9% in March to 3.7%.


The US economy contracted by 0.9% during the second quarter of this year on an annual basis,
sharply deviating from expectations if it indicated a growth of 0.4%


In expectations by the International Monetary Fund in July,
the gross domestic product in the United States would grow by about 2.3% this year,
and it also expected that the unemployment rate would reach 3.7% this year,
compared to its previous forecast of 3.2%.


artical name Japan’s PMI fell to its lowest level since February.




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