The market sentiment is mixed. Let’s look at most interesting movements on the market today.
China's factories are seen reporting another solid month of surge in August
In August, China's factories reported another solid month of surge, suggesting the world's number two economy is still ascending at a healthy clip notwithstanding soaring financing costs as well as a cooling housing market, as a Reuters survey disclosed.
The official manufacturing Purchasing Managers' Index PMI is supposed to come in at about 51.3 for August, sliding a bit from July's outcome of 51.4, as a median forecast of 39 financial experts states.
It would stand for the 13th straight month of expansion for the country’s manufacturers, who are actually enjoying their best revenues in years due to a government-led construction boom as well as a revival in exports. By the way, the 50-mark divides contraction from expansion on a monthly basis.
Powered by strong infrastructure spending as well as record bank lending in 2016, China's economy ascended by a faster-than-expected 6.9% during the first half of 2017 and seems set to meet the government's full-year objective of nearly 6.5%.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
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.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.