American mortgage applications tacked on for the first time for five weeks because most home borrowing costs kept to their lowest value for 10 months…
Slower property, construction surge weigh on China Q3 GDP, although services gain
In the third quarter China reported relatively firm economic surge, powered by an ascending services industry, although real estate and construction seem struggling because property cooling measures start biting, as data disclosed on Friday.
China's property sector managed to grow 3.9% during the quarter from 2016, also decelerating from 6.2% in the second quarter and demonstrating the slowest tempo in almost two years, as the National Bureau of Statistics told in a more detailed breakdown of third-quarter GDP data released on Thursday.
Surge in construction activity slumped from 5.4% in the second quarter to about 4%, which is the poorest expansion since the fourth quarter of 2000, as NBS data revealed.
Construction and property together show 13.3%, with property alone impacting up to 40 other industries.
China had reported forecast-confounding surge in the first half of 2017, led by a steep turnaround in the long-ailing industrial sector, accounting for a third of the Chinese economy.
The releases of employment change and the unemployment rate for Australia are expected on February 21, at 2:30 MT time.
The release of the Federal open market committee (FOMC) meeting minutes is scheduled on February 20, at 21.00 MT time.
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…