What drives the market on July 8?
The market takes breath after the long rally. What opportunities do traders have today?
British construction PMI dips to 11-month minimum in July
In July, British construction sector activity went down more than expected, reaching an 11-month minimum, as industry data revealed on Tuesday.
Market research company IHS Markit along with the Chartered Institute of Purchasing & Supply informed that their British construction purchasing managers' index descended to a seasonally adjusted reading of 51.9 the previous month from June’s result of 54.8.
Financial experts had expected the index to inch down to 54.5 in July.
IHS Markit stressed that the reading appeared to be its weakest outcome since August 2016. It’s because commercial work decreased at the fastest tempo for 12 months.
The research company added that a dip in fresh orders provoked softer job creation in July.
July data discloses a surge slowdown in the British construction sector, mostly powered by lower volumes of commercial development as well as a loss of momentum for house building.
Similar
The US labor market is in focus again
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
How to trade on July 7?
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
Latest news
Risk-on is back. Market news and trade ideas on July 9.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
GOLD: the era of $1 800
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canadian job data: an attractive release for trading
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.
Deposit with your local payment systems
