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.
Chinese economy loses some steam as investment surge hits 18-year minimum
On Thursday, China posted a rare flurry of dismal data, including its slowest surge in investment in almost 18 years. It definitely suggests the world's number two economy is currently losing some momentum as borrowing costs go up.
Factory output along with retail sales ascended less than anticipated, although a rebound in property sales as well as construction starts will probably keep China's overall surge relatively firm and conveniently on target ahead of next month’s major leadership reshuffle.
Financial experts had widely expected China's August data to show industrial output as well as retail sales surge accelerated having faded moderately in July. Meanwhile, investment was observed as just marginally softer.
It would have gotten along with a pattern of stronger-than-expected outcomes from China in the first half of 2017 as well as positive surveys on August factory activity.
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…