The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
China industrial revenues leap 19.1% year on year
In June, earnings for China's industrial companies ascended 19.1% percent from a year earlier, soaring from May in a sign that economic momentum is still solid even as soaring borrowing costs have driven worries regarding pressure on margins.
In June, revenues grew to 727.78 billion Yuan, as the National Bureau of Statistics informed on Thursday on its website.
For the first half of 2017, the industrial companies notched up gains of 3.63 trillion Yuan, which is a 22% leap from the same period of the previous year and a bit slower from the 22.7% annual surge in the January-May period.
June’s robust surge of industrial earnings was partly driven by ongoing appetite for iron ore as well as other commodities, whose prices have revived modestly having taken a hit since March.
As statistics bureau official He Ping informed in a statement accompanying the report that accelerated revenue surge in steel, car and electronics sectors helped to spur overall earnings.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
USD’s rally takes a pause, while riskier assets are modestly rising.
We are now past the middle of January, and this means that the largest US companies will report their earnings for the fourth quarter and many of them will provide the results of the entire 2020.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.