The market sentiment is mixed. Let’s look at most interesting movements on the market today.
American retail mall vacancies stand still in the first quarter
American retail mall vacancies were intact, sticking to 9.9% during the first quarter of 2017, compared with the fourth quarter of the previous year, as new construction dipped to its lowest values in six years, as real estate research company Reis Inc revealed in its report.
Expectations for the retail real estate industry have dropped because of the rapid ascend in e-commerce as well as store closures. However the entire impact of the closures hasn’t been felt yet, as Denham stressed.
Construction activity went down by more than two-thirds during the quarter, with a paltry 796,000 square feet of fresh construction completed.
Asking rent soared 0.3%, while effective rent added 0.4%, as Reis told.
Net absorption, assessed in terms of available retail space sold in the market for a certain period, more than halved, hitting 1.25 million square feet.
Besides this, the national vacancy rate for neighborhood as well as community shopping centers stood still at 9.9%.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.