WEEK SO FAR

WEEK SO FAR

WEEK SO FAR

Week So Far

We are already in the middle of the week and let's cover the important moments so far.

1- Nancy Pelosi's Visit to Taiwan

US Senate Spokesperson Nancy Pelocy visited Taiwan for less than 24 hours but it was more than enough to escalate the tension between US and China. The Chinese Military started military exercises yesterday and it will go on until the 6th of August. China accepts Taiwan as part of its own territory and doesn't accept its independence. The US is supporting Taiwan's Independence so the problem starts here. We will see the consequences of this visit in the coming days.

2- Germany Balance of Trade

Germany's high energy bill is limiting their trade surplus. They have reported €7.7 Billion trade surplus for June and this is just half of June 2021. These weak data releases support recession fears in the European Area.

3- China Caixin Manufacturing PMI

Manufacturing PMI is slowing down in China and this is creating pressure over commodities especially Oil and Gas. Troubled real estate sector is the major problem and also a major contributor for manufacturing. So the slowdown in the real estate sector is affecting the whole economy and this situation seems to be getting worse.

4- US Non-ISM Manufacturing PMI

US Non-ISM Manufacturing PMI beat the estimates with a surprise and this is providing lots of room for FED officials. As they raise the interest rates the markets don't slow down but affect the banking sector especially mortgage loans. Fast declining bank loans can create problems for banking sector profitability.

As you can see there are lots of trading options are happening in the markets. With Gann Markets Expert Advisers you can learn and trade with us. Start Trading Today!!!

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03 August 2022 07:38

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