GBP is in focus
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…
China July factory surge cools moderately as export orders descend
In July, surge in China's manufacturing sector slowed, backing hopes that the world's second-largest economy will probably drops in the nearer months because borrowing costs ascend along with regulators weigh on riskier types of financing.
Published on Monday, the official Purchasing Managers' Index showed d51.4 in July, sliding from the previous month's outcome of 51.7, though it was still above the 50-point level, separating surge from contraction on a monthly basis.
Experts polled by Reuters had predicted that the outcome would be 51.6, nearly the same as June’s reading.
China reported stronger-than-expected economic surge of 6.9% for the first half, powered by a year-long construction boom, robust retail sales and resurgent exports.
In July, the sub-index for the construction sector tacked on to 62.5 from June’s reading of 61.4, as the PMI survey by the National Bureau of Statistics revealed.
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How to trade on August 4?
The market sentiment improved amid the slowdown in virus cases. Let's have a closer look at the AUD, S&P 500, gold and the GBP.
All eyes on AUD
The RBA will make a rate statement on August 4 at 7:30 MT time.
Latest news
What drives the market on August 10?
The market has started the week with a mixed sentiment…
Big day for USD
The US NFP will be published on August 7 at 15:30 MT time.
Main market movements on August 6
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
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