What drives the market on July 8?
The market takes breath after the long rally. What opportunities do traders have today?
China's August industrial revenue surge accelerates as commodity prices leap
In August, annual revenues at China's industrial companies inched up 24%, speeding up from last previous month, thus proving that economic surge remains in good heart notwithstanding signs of receding momentum following a firm first half.
The positive earnings happens to be another sweetener for Chinese government because it actually focuses on stripping out financial risks from the period of debt-fueled surge and keeping the national economy on a firm footing ahead of an important party meeting next month.
August’s revenues soared 24% hitting 672 billion Yuan, the greatest percentage leap since the January-Feb period, as the National Bureau of Statistics reported on Wednesday. Apparently, annual revenues surge turned to be 16.5% in July.
For the first eight months of 2017, the companies reported revenues of up to 4.92 trillion Yuan, which is a leapt of 21.6% from the same period of 2016, picking up moderately from the 21.2% annual surge in the January-July period.
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The US labor market is in focus again
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
How to trade on July 7?
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.
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Risk-on is back. Market news and trade ideas on July 9
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
GOLD: the era of $1 800
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canadian job data: an attractive release for trading
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.
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