The International Monetary Fund has warned that China’s economy will grow faster than expected over the next three years thanks to “dangerous levels of debt.” The IMF stated that China’s credit growth is on a dangerous trajectory. China’s economic growth has slowed from an average of 10 percent a year in the previous three decades to a rate of 6.7% last year. China’s credit boom has helped the economy to manage a transition to slower growth with a different pattern, otherwise, the economic expansion would have been slower.
source:BBC News, Investing.com
The consumer price index for U.K. remained steady at 2.6 percent in July, compared to analysts’ expectations of 2.7 percent and retail price index was higher than expectations at 3.6 percent. The U.K. is set to release its Average Earnings Index +Bonus for June and its Claimant Count Change for July, both due at 08:30 GMT today. The EIA will communicate the U.S. crude oil inventories later at 14:30 GMT.
Facebook is collaborating with eBay as it adds a new feature within its Marketplace section in its Marketplace section on its mobile app. Users can now make a selection of inventory from eBay’s Daily Deals program which can be shopped directly in Facebook’s app and shared with others via SMS or Messenger. The deals will emphasize on products in the Consumer Electronics, Fashion, and Home & Garden categories. Meanwhile, U.S. building permits for July and the FOMC meeting meetings are due at 12:30 GMT and 18:00 GMT respectively.
The Japanese Nikkei 225 recorded its highest level since the beginning of the week at 19830 points at 12:00 UTC in yesterday’s session. This was dragged by bearish candles and it maintained a low level for the rest of Tuesday. Today, it gained some strength as from 01:00 UTC but it is still trading below the 19780 level, consider trading within similar ranges for today. Earlier, the asset lost 0.09 percent, with gains in most tech stocks.
On Tuesday, the GBP/USD pair picked a downtrend after fluctuating in early trading hours, it tumbled as from 06:00 at $1.29642 to reach a low level of $1.28512 by 12:00 UTC. It was seen trading much much volatility in today’s early trade, however, started picking some value around 03:00 UTC. The asset is still trading below the 1.29 level after yesterday’s bearish trend. Events held in the U.S. and the U.K. can uplift trend of this asset on the market.
This currency pair traded with much volatility in yesterday’s evening session, after recording several pullbacks during the day. Wednesday, the asset opened its session on a positive note at the 0.78225 level at 00:00 UTC. The AUD/USD pair gained 0.15 percent as it traded at $0.7834 around 04:00 UTC and it is expected to maintain a bullish trend through today as the Australian dollar rebounds after solid wage price data.
Things to watch on the market
Chinese indices including the Shanghai Composite and the SSE 180 are available for trade on the Classic Binary Options.
Assets such as the EUR/GBP, GBP/USD, GBP/JPY and FTSE 100 should be traded in regards to events released today.
Investors should trade on stocks of Facebook as the social media giant continue to innovate, along with the EUR/USD, AUD/USD and Wall Street indices on our trading platform.