What drives the market on July 1?
The market sentiment is mixed. Let’s look at most interesting movements on the market today.
China June trade surpasses expectations as global demand is still strong
China posted better-than-expected trade data for June, thus suggesting the country’s economy is holding up well due to firmer global demand notwithstanding a struggling property market at home amid a financial crackdown, which has applied pressure to firms.
China's June exports tacked on 11.3% from last year, while imports surged 17.2%, both beating experts' expectations, as Thursday’s data revealed.
It left China with a trade surplus of about $42.77 billion for the month, as the General Administration of Customs reported.
Experts surveyed by Reuters had hoped for June shipments from the world's leading exporter to have ascended 8.7%, which is in line with the annual surge figure in May.
Imports were predicted to have soared 13.1%, easing from the suddenly strong 14.8% leap in May.
Experts were actually expecting China's trade surplus to have extended to approximately $42.44 billion in June from May's outcome of $40.81 billion.
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Will the NFP push the USD again?
Non-Farm Payrolls data will be released on Thursday at 15:30 MT time.
Will the European labor dynamic boost the EUR?
The European unemployment rate will be announced on Thursday at 12:00 MT time.
Latest news
The RBA: keeping the AUD alive?
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
What will affect markets on July 3?
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
How to trade on July 2?
The risk-on tone is back on the market again. Let’s look at main trading opportunities.
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