What drives the market on July 8?
The market takes breath after the long rally. What opportunities do traders have today?
British households undergo the sharpest squeeze in three years
In July, UK households' financial situation has worsened at the fastest pace for three years because British families increasingly stay away from big purchases like household appliances and cars, as Monday’s survey revealed.
Financial data company IHS Markit informed its monthly Household Finance Index tumbled to 41.8 from June's outcome of 43.7, which is its lowest result since July 2014. It definitely reflects an everlasting squeeze on household incomes because wages can’t catch up with inflation.
There are evident signs that squeezed household budgets along with worries as for earnings have started spilling over to consumer spending patterns.
Wednesday’s official data showed that economic surge picked up moderately by the end of June. Experts surveyed by Reuters observe an expansion of 0.3% versus 0.2% in the first quarter, which is half Britain's long-term average surge rate.
The poll also unveiled that households' willingness to make big purchases went down to its lowest reading since December 2013.
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
