Friday Trades: EUR/USD, USD/JPY, and Gold
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
China September factory activity is seen tumbling at a slightly slower pace
In September, China's factories managed to spur activity for the 14th straight month because the country's year-long building boom as well as higher prices earned hearty revenues, although the tempo of surge might have slumped moderately from August.
On Sunday, the official manufacturing Purchasing Managers' Index is believed to show 51.5 for September, decreasing marginally from August's outcome of 51.7. It follows from a median prediction of 24 financial experts surveyed by Reuters.
China's manufacturers reported sturdy earnings, powered by a government-led infrastructure spending spree, firmer factory-gate prices as well as recovering exports.
In August, revenue ascend at Chinese industrial companies at the fastest monthly tempo in four years because of higher commodity prices, as data disclosed on Wednesday.
Concerns as for a steep sag in demand in the nearer months have caught China iron ore futures tumble more than 20% since August, although steel prices have kept going up.
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