US Core monthly retails sales will be announced on Friday at 15:30 MT time.
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.
Stock significantly surged: S&P 500 and Nasdaq reached 6-week highs. The market sentiment may deteriorate today as Johnson & Johnson’s Covid-19 vaccine trails have been stopped because of the unexplained illness.
The Australian jobs data is announced on Thursday at 03:30 MT time.
The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.
The market sentiment is mixed, but there are still interesting movements on the market.