The market takes breath after the long rally. What opportunities do traders have today?
China's July fiscal spending tempo slows, but profits add
In July, China's fiscal spending tacked on at a slower pace mostly because of larger expenditure earlier, although a government-led infrastructure push has maintained spending brisk in 2017.
In July, fiscal spending inched up 5.4% from 2016, while revenue leapt 11.1%, as the Ministry of Finance informed on Friday.
July's surge rate sank abruptly from June’s outcome of 19.1%, although revenue surge jumped from 8.9% in that month, as the ministry told.
The authorities associated the dip in July spending mostly with considerable expenditure earlier.
For the first seven months of 2017 government spending jumped 14.5% on year, while profits headed north 10%.
Government-led stimulus has appeared to be a key driver of economic surge for the last years in the world's number two economy. However, the pump-priming has been unrolling in tandem with runaway credit surge and generated a mountain of debt.
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
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.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.