What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
China is on the verge of extending transition phase for cross-border retail
China is geared up towards delaying enforcing tougher rules on the country's rapidly growing cross-border retail market until the end of next year. Undoubtedly, it’s going to be a boost for global companies, which have been tapping the round-about route into the second economy of the world.
Cross border-retail sales, or in other words, goods either shipped to shoppers in the Asian country from overseas or delivered from bonded warehouses of free-trade zones within the country, are believed to reach 758 billion Yuan, as data from McKinsey & Co and iResearch states.
Planned fresh rules will drastically lift taxes as well as regulations on goods sold via cross-border channels, although the Chinese government is going to extend a transition phase for implementation by one year, as China's ruling State Council told on Wednesday. The given move will provide retailers with more time to prepare and adapt.
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!