Nikkei leads Asia higher, China struggles to keep up

📆 7/3/2023 4:45 AM
📰 Reuters

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A data-packed week promises to be pivotal in the outlook for the Chinese economy and U.S. interest rates.

while a flat reading for consumer spending suggested the Federal Reserve's rate hikes were having an impact, albeit gradually.

Important U.S. data this week includes closely watched surveys on manufacturing and services, job openings and the June payrolls report. Median forecasts are for a steady unemployment rate, while jobs are seen up 225,000 after May's surprisingly strong 339,000. The prospect of at least one more U.S. rate rise continues to underpin the dollar against the yen, given the Bank of Japan shows little sign of abandoning its super-easy policies.

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