The market calms down ahead of the Fed’s statement this evening.
Solid growth is seen for Chinese manufacturers in March
In March, activity in China's vast manufacturing sector surged for an eighth straight month, as a sudden rebound in the property market contributed to a construction boom, accelerating sales of building materials from cement to steel, as a Reuters survey showed.
The official manufacturing Purchasing Managers' Index is supposed to stay at 51.6 in March, the same outcome as in February that was the second-highest reading since July 2014, as a median forecast of 31 economists in a Reuters survey states.
While it’s quite above the 50.0 mark, separating expansion from contraction, over a dozen cities have already announced new property cooling measures in recent weeks just to slow home price surges, thus raising questions over how long the solid pace of surge can be sustained.
During the first two months of 2017 home sales rebounded with a soar in new starts, thus defying previous government curbs to contain bubbly prices in key cities such as Beijing.
Revenues of Chinese industrial companies soared nearly 32% during the first two months of 2017, which is the fastest pace in almost 6 years, as as prices of commodities from iron core to coal added.
Follow Canadian core retail sales on September 18 at 15:30 MT time!
The US dollar gained after the Fed’s report, while riskier assets dropped. Let’s have a closer look.
Keep an eye on the UK monetary policy statement on September 17 at 14:00 MT time!