Online Forex broker
In August, China’s official factory gauge suddenly strengthened, thus indicating some resilience as the Chinese economy braces for an escalation of the trade conflict with America.
In August, the manufacturing purchasing managers index kept to 51.3 versus July’s reading of 51.2. What’s more, it surpassed the estimate of 51 in a Bloomberg poll of market experts. Additionally, the non-manufacturing PMI that covers construction and services rallied to 54.2, as the statistics bureau informed on Friday, versus July’s reading of 54. Levels above 50 stand for improvement.
With America already lifting duties on $50 billion of China’s products, such strength might prove difficult to sustain, while duties on another $200 billion might be slapped next week.
On Thursday, China announced that it’s on the verge of exempting foreign institutions from paying some taxes on interest profits in the onshore bond market in an attempt to back the national economy. The exemption was announced after a State Council gathering headed by Premier Li Keqiang covered value-added and corporate income taxes for a period set at three years.
In July, the reading for smaller manufacturers tacked on to 50 having stayed in the deterioration zone for up to three months. It definitely highlighted that major bank policies to back that crucial part of the Chinese economy might be helping to back confidence. Moreover, the reading for larger companies slumped for a third month, although it was still at a firm value of 52.1.
Risks to external demand from the trade clashes showed up in the data, pointing to the uncertainties for the country’s factories. US leader is on the verge of moving ahead with his intention to slap duties on $200 billion on China’s products as soon as a public-comment period ends next week.
In August, American home sales stood still, although inventory added for the first time for three years because the housing market kept struggling notwithstanding strength across the broader American economy…
The Canadian dollar has chances to keep trading at good levels. According to the recent statement of the Bank of Canada, the country’s economic data are in line with the forecasts.
The main focus today is on the UK retail sales, which are expected to fall by 0…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
