Main market news on September 23
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
China GDP surge tops expectations
On Monday, China surge data managed to surpass expectations.
The country’s GDP for the second quarter inched up 6.9% year-on-year, and surge in the second quarter was 1.7%.
As for fixed asset investment, it grew too, with leaps from January to June of 8.6% on year, surpassing expectations. Additionally, property investment jumped 8.5% during the first half of 2017. Retail sales gained too, adding 11% in June from 2016. In non-rural areas fixed-asset investment grew 8.6% in the first half of 2017.
In June, value-added industrial output grew by 7.6%. A proxy for economic surge, the ascend turned to be higher than the 6.5% posted in May, as the National Bureau of Statistics informed. Month-on-month, industrial productions inched up 0.81% in June, which is 0.3% higher than in May.
China's surge target for the year is approximately 6.5%, unlike the 6.7% objective for last year, which surge showed its lowest outcome for 26 years.
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Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
Main market movements on September 22
The market sentiment remains risk-off amid rising virus cases around the world and fears over new restrictions and lockdowns.
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China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
US stimulus package improved sentiment
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
The US weekly labor data is out!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.
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