Asian Currencies Hold Steady as US Dollar Nears Seven-Week Low Ahead of Key Jobs Data 
Asian Currencies Steady as Markets Await U.S. Jobs Data 
Asian Stocks Slide as Semiconductor Selloff Weighs on South Korea and Japan 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
Oil Prices Slip as Hormuz Shipping Progress and Rising U.S. Crude Stocks Weigh on Market 
Singapore Says One-Third of U.S. Exports Hit by New 12.5% Tariff 
US Yen Intervention Unlikely to Deliver Lasting Recovery, Yardeni Says 
Australia Trade Surplus Returns in June as Iron Ore, Coal and LNG Exports Surge 
China Trade Surplus Beats Forecasts in July as Exports Stay Strong 
US Dollar Gains as Iran Tensions, Fed Rate Hike Bets Rise 
Oil Prices Surge as Iran Hormuz Restrictions Renew Supply Fears 
Asian Stocks Mixed as Chip Selloff Hits KOSPI, Nikkei Ahead of US Jobs Data 
Wall Street Ends Mixed as Dow Hits Record Despite Tech Weakness 
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
US Stock Futures Rise as Markets Await July Payrolls Data 
Canada, US Hold Constructive Trade Talks as Tariff Negotiations Continue 
Dollar Holds Near Six-Week Low as Yen Loses Momentum Ahead of U.S. Jobs Data 
Japan's factory activity contracted slightly in July as output and new orders fell, according to a business survey. However, the service sector's expansion led to overall growth in the private sector, with the au Jibun Bank composite PMI rising to 52.6.
Japan's Factory Output Dips in July, While Booming Service Sector Spurs Overall Growth
A business survey released on July 23 showed that Japan's factory activity contracted slightly in July as output and new orders fell, and firms remained pressured by higher prices.
However, the survey found that the expansion in the service sector helped overall activity in Japan's private sector return to growth in July.
In July, the au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) decreased from 50.0 in June to 49.2, according to Reuters.
For the first time in three months, the index declined below the 50.0 threshold that distinguishes growth from contraction every month.
"Service providers led the expansion and saw activity growth hit a three-month high, while manufacturers saw a renewed reduction in output that was only marginal," said Usamah Bhatti, an economist at S&P Global Market Intelligence, who compiled the survey.
According to the survey, the primary output subindex experienced a minor contraction in July, reversing its expansion in June. Additionally, new orders experienced their lowest level since February.
It was discovered that manufacturers were still under pressure as input cost inflation reached its most significant point since April 2023, while output prices declined to a four-month low.
As a result of the yen's decline, the cost of raw material imports increased, accelerating Japan's wholesale inflation last month.
Yen's 38-Year Low Raises Import Costs, but Service Sector Rebounds with Strong July Growth
Earlier this month, the Japanese currency plummeted to a 38-year low about the U.S. dollar. [FRX/] The recent depreciation of the yen can potentially increase the cost of imports.
The previous month's decline in service sector activity was reversed in July, as evidenced by a substantial increase in new business.
The rapid services of au Jibun Bank The PMI increased to 53.9 in July, the most significant level in three months, from 49.4 in June.
The sector's exceptional business reached its most significant level since March, indicating that capacity was under pressure.
In July, the au Jibun Bank flash Japan composite PMI, which amalgamates manufacturing and service sector activity, increased from 49.7 in June to 52.6.
