The market takes breath after the long rally. What opportunities do traders have today?
South Korea August exports add for 10th month
In August, South Korea's exports were supposed to add for a 10th straight month, according to Wednesday’s Reuters survey. It’s because global demand for tech products were still robust in spite of the fact renegotiation of a major trade pact with America might contribute to future risk.
The median prediction of the 12 experts surveyed was for exports to ascend 14.3% from 2016, slowing from July’s outcome of 19.5%. Import surge was seen decreasing to 11.4% having leapt 14.5% percent in July.
The previous week the United States and South Korea held a one-day video conference to discuss how to move forward in negotiations on the trade pact, though failed to reach come to a compromise.
July exports to the United States and China rallied 7% and 6.6% respectively against 2016. By the way, China appears to be South Korea's leading trade partner.
As for shipments to the EU, they demonstrated a 10.2% surge.
The same survey states that August’s year-on-year inflation was believed to hit 2.2%, intact from July.
The United States will publish a weekly update on unemployment claims on July 9, at 15:30 MT time.
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.