The market sentiment improved amid the slowdown in virus cases. Let's have a closer look at the AUD, S&P 500, gold and the GBP.
China's home prices will edge up 6.8% in 2017
In 2017, China's home prices will probably ascend more than previously estimated notwithstanding a storm of government curbs to tame speculation, as a Reuters survey revealed on Tuesday, thus soothing concerns that the Chinese economy would slow abruptly.
Property prices will keep rising steadily as heavy government intervention assisted partly by a shift in demand to China’s smaller cities. That’s what the survey of 13 property experts and economists from August 21-28 disclosed.
As for average nationwide home prices, they were supposed to soar a median 6.8% in 2017 compared with a median forecast of 2% surge in the last survey in February.
In 2016, prices of new homes in China tacked on 12.4%, which is the fastest rate since 2011.
A resilient property market are going to be positive news for China's policymakers, willing to keep the real estate market steady before a once-in-five-years Communist Party congress.
The RBA will make a rate statement on August 4 at 7:30 MT time.
The overall market sentiment is mixed as new virus cases continue rising throughout the world, but most economic indicators came out better than analysts expected. Let’s look at the main market movements.
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…