The market takes breath after the long rally. What opportunities do traders have today?
China July trade with North Korea goes down from June on coal ban
In July, China's trade with North Korea went down from the previous month, as data disclosed on Wednesday. It’s because a ban on coal purchases from its isolated country slowed imports amid ascending pressure from America to tame Pyongyang's missile program.
In July, the world's number two economy imported and exported goods worth approximately $456.16 million, down from June’s outcome of $489 million, as data from China's General Administration of Customs states.
It soared from $426.1 million in July 2016.
Year-to-date, trade tacked on 10.2% rising to $3.01 billion. The given data shows that China's move to cease North Korean coal imports in February has affected Pyongyang's ability to lift hard currency via exports.
Obviously, China's imports from North Korea hit $156.3 million, sliding 3% from the previous month and a third lower than in 2016, as follows from data on customs website.
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.