GBP is in focus
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…
China's July exports and imports surge slower than expected
In July, China's imports and exports ascended more slowly than expected, driving worries over whether global demand is already cooling even as key Western key banks consider scaling back their huge stimulus programs.
In 2017, Europe and China have been driving a surging share of global surge because political conflict affects policies being pushed by Donald Trump.
However, in July, China's export surged slowed to 7.2% from the previous year, which turns to be the weakest tempo since February. Financial experts had hopes for a 10.9% surge.
Imports headed north 11%, which is the slowest ascend since December, and also dropped from a 17.2% leap in the previous month. It also ruined hopes for a 16.6% ascend.
It left the Asian country with a trade surplus of about $46.74 billion for the month, which is the highest outcome since January, versus predictions for $46.08 billion. The reading exceeded June's value of $42.77 billion.
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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.
All eyes on AUD
The RBA will make a rate statement on August 4 at 7:30 MT time.
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What drives the market on August 10?
The market has started the week with a mixed sentiment…
Big day for USD
The US NFP will be published on August 7 at 15:30 MT time.
Main market movements on August 6
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
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