GBP is in focus
Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…
June China car sales rebound amid price cuts
In June, China's car sales rebounded because the country's top industry association reported, shaking off weakness observed for the last two months because car producers grappled with a rollback in tax incentives, which drove strong surge the previous year.
In June, total vehicle sales reached up to 2.17 million, edging up 4.5% from last year, while sales for the first half of 2017, added 3.8%, hitting 13.4 million car, as the China Association of Automobile Manufacturers informed on Tuesday.
The soar in sales that industry insiders told was backed by hefty discounting, actually lends a sheen to the world's number one car market, though surge is struggling to keep pace with last year, when the market soared at its fastest pace for three years.
Overall car demand in China would probably surge 1-4% in 2017, mostly because consumers made purchases the previous year to derive benefits from lower tax rates.
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How to trade on August 4?
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.
All eyes on AUD
The RBA will make a rate statement on August 4 at 7:30 MT time.
Latest news
What drives the market on August 10?
The market has started the week with a mixed sentiment…
Big day for USD
The US NFP will be published on August 7 at 15:30 MT time.
Main market movements on August 6
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.
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