Will RBA press AUD down again?
The Reserve Bank of Australia will make a rate statement on March 2, at 5:30 MT time.
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.
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NFP is coming!
Non-farm payrolls, the most awaited economic report, will be out on March 5 at 15:30 MT time.
Rise of NZD, dovish Fed, and stocks indices' sell-off
Stock indices S&P 500 and Nasdaq are falling for seven days in a row. The New Zealand dollar skyrocketed to almost two-years highs. Fed’s Powell held a meeting yesterday and said that the central bank wouldn’t tight its easing policy anytime soon.
Latest news
NVIDIA beat earnings forecasts!
The giant chip maker exceeded analysts’ expectations. Even with a global GPU shortage!
OPEC may increase oil supply at meeting on March 4
OPEC will hold a meeting on March 4, where it should announce its decision on further oil output.
Risk on is back on market
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.
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