The market takes breath after the long rally. What opportunities do traders have today?
India is the fastest ascending key economy in Jan-March quarter
India still appears to be the fastest ascending key economy worldwide the previous quarter, with positive dynamics buoyed by an improved performance in services and manufacturing, as a Reuter’s survey of economists disclosed.
Prime Minister Narendra Modi's ban of high-value currency notes the previous year had a crucial short-term impact on demand, although private and public consumption has revived.
The median prediction from a survey of 35 financial experts demonstrated that the Indian economy ascended 7.1% annually during the first three months of 2017. Predictions varied from 6.5 to 7.8%.
Annual surge hit 7% in the quarter ending December, as well as 7.9% in the January-March quarter the previous year.
India's industrial output inched up 2.7% in March from last year, thus exceeding the median consensus of 1.5% surge in a Reuters survey.
Factory and services activity headed north for most of the first quarter of this year, adding to a five-month peak in March, thus showing that the effects from demonetization appeared to be short lived.
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.