The British monthly GDP is announced on Friday at 09:00 MT time.
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 main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
The US unemployment claims are out on Thursday at 15:30 MT time.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.