Japan’s new prime minister Suga set to continue ‘Abenomics’
Yoshihide Suga was formally voted in as Japan's new prime minister by parliament's lower house and is now the first new leader in nearly eight years. Suga calmed markets with his plan to continue 'Abenomics' and keep half of predecessor Shinzo Abe's team.
Shinzo Abe was Japan's longest-serving prime minister but had to resign due to ill health. Suga previously served under him in the role of chief cabinet secretary but is set to implement structural reforms to revive the Japanese economy.
Did you know that you can speculate on the price of the Japanese Yen and Japan's stock market indices the Nikkei 225 using Contracts for Difference (CFDs)? This allows you to potentially profit from both rising and falling markets. Get started with a free demo trading account today!
Suga has a lot of issues to quickly gain control of:
- A battered economy due to Covid-19
- A rapidly aging population
- Intensifying US-China tensions.
The continuity of the cabinet under Suga has calmed many investors who have backed Sinzo Abe's 'Abenomics' policies to boost the country's money supply and government spending while making the economy more competitive.
The positive tones also helped to lift global stock indices. Although a weakening dollar throughout the session also helped provide some support. Traders will now be focused on Wedensday's FOMC Press Conference and the next actions from the US Federal Reserve.
How to trade the Nikkei 225 Index with Admiral Markets UK Ltd
If you are feeling bullish or bearish on the price of the Nikkei 225 Index or other instruments, you can speculate on its price direction using CFDs. To get started, follow these five simple steps:
- Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
- Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
- Type in Nikkei, or another instrument, at the bottom of the Market Watch search box and then drag the symbol onto the chart.
- Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
- Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.
Source: Admiral Markets MetaTrader 5 Web, JP225, Weekly - Data range: March 30, 2014, to September 16, 2020, performed on September 16, 2020, at 7:09 am BST. Please note: Past performance is not a reliable indicator of future results.
Did you know that you can open a free demo trading account so you can test your trade ideas and theories regarding the price direction of thousands of markets in a virtual trading environment? Open your free account today by clicking on the banner below and receive free access to Premium Analytic tools and more!
INFORMATION ABOUT ANALYTICAL MATERIALS:
The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter "Analysis") published on the website of Admiral Markets. Before making any investment decisions please pay close attention to the following:
1.This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
2.Any investment decision is made by each client alone whereas Admiral Markets UK Ltd (Admiral Markets) shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content.
3.With a view to protecting the interests of our clients and the objectivity of the Analysis, Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
4.The Analysis is prepared by an independent analyst Jitan Solanki, Freelance Contributor (hereinafter "Author") based on personal estimations.
5.Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis.
6.Any kind of past or modeled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
7.Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, please ensure that you fully understand the risks involved.