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China is on the verge of extending a tax rebate on purchases of new-energy vehicles or NEV for short until the end of 2020. It’s going to be a boost for electric and hybrid car makers amid a shift by policy-makers away from the conventional internal combustion powerplant.
As the finance ministry told on Wednesday the tax exemption that was set to expire at the end of 2017, is going to run from January 1, next year until December 31, 2020 for plug-in petrol-electric hybrid, electric as well as fuel-cell powered cars.
The extension emerged as Chinese car makers brace to meet severe NEV quotas starting in 2019, which are sparking a flurry of electric vehicle deals as well as new launches of electric and also hybrid models.
China's car market, which is the world's largest one, has slowed steeply in 2017, although new-energy vehicles have appeared to be a bright spot – their sales managed to leap 51.4% in this Asia country.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
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