Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
New car sales dip 3% in Germany in June
In June German new car sales went down 3% the previous month, dipping to 327,800 cars, as car industry association VDA informed on Tuesday, pointing to two fewer selling days.
Year-to-date registrations in the EU’s largest car market grew 3% on year-earlier levels, showing 1.79 million cars, VDA told, confirming a Reuters message.
According to the industry association, it expected German domestic vehicle production and exports to decline 2% each in 2017, tumbling to respectively 5.6 million and 4.3 million cars.
Car makers are actually watching with concern the dropping market share of Euro-6 diesel cars as well as the ascending share of fuel-powered cars, emitting higher levels of carbon dioxide emissions, as VDA told. The given organization represents car makers and suppliers including BMW, Volkswagen and Daimler.
With German elections three months away, the country's car industry is supposed to contribute towards an initiative to reduce pollution from diesel powerplants to help to improve air quality and also regain trust, which was spoilt by VW's 2015 emissions scandal.
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
PMI reports from the EU, the UK, and the USA will be released during the day!
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!