US Initial jobless claims will be announced on Thursday at 15:30 MT time.
China's new home price surge keeps slowing in July
In July, China’s surge in new home prices slowed, with Beijing prices tumbling for a second straight month, underpinning expectations of further slowing later in 2017.
Government limits to keep prices in check put pressure on larger cities, with July demonstrating the slowest ascend since August 2016. As for smaller centers, they pulled back, but remained sturdy. In Tier-3 cities new home prices surge declined to 0.6% from 0.9% in June, as the National Bureau of Statistics informed in an analysis accompanying the data publication.
New home price ascend in China's top-tier cities stood intact from June. Meanwhile, surge in Tier-2 cities went down 0.2%, as the NBS told.
Retreating prices along with slowing property investment and sales could potentially denote a moderating property market, which is unlikely to suffer the abrupt correction some investors had feared.
However, many financial experts expect the sector to lose more momentum during the second half of 2017 amid ongoing policy tightening as well as an official financial deleveraging campaign.
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
Services and Manufacturing PMIs are out on Wednesday at 11:30 MT time.
China’s Manufacturing PMI will be out on Wednesday at 04:00 MT time!
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!