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China equities reach 21-month maximum
On Monday, Chinese equities ascended after a week-long break because a dismal poll on the country's service sector didn’t manage to suppress optimism on global surge, while political uncertainty provoked turbulence for the Turkish as well as British currencies.
Liquidity was actually lacking with South Korea and Japan on holiday and also a partial holiday in America, where equities will be open, although bonds are going to be closed.
The Chinese blue-chip CSI300 index tacked on 1.7% reaching maximums not observed since late 2015, perhaps, in a delayed reaction to a planned easing by the country's major financial institution announced last week.
It helped to compensate a dip in the Caixin index of service sector activity to September’s 21-month minimum, which is a contrast to upbeat numbers in manufacturing.
As for spreadbetters, they also pointed to opening revenues for most key EU bourses.
The global economy definitely continues its synchronized revival, as follows from firm data across regions, including wage surge surprises in Japan and America.
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.