Last Friday, USD weakened against most major currencies except CAD.
In retaliation to the U.S.’s order of the closure of the Chinese consulate in Houston, China has ordered the U.S. to shut down its consulate in Chengdu.
The flash PMI data released last Friday indicated that the manufacturing sector in the U.S. has recovered from contraction to the expansionary level while the services sector improves slightly but falling short of the expectation of recovering into the expansionary level in July. However, growth in business activities have impeded by an increased rate of decline of new orders due to the return of COVID-19 containment measures.
The U.S. durable goods orders m/m data will be released later at 2030 (SGT).
In retaliation to the U.S.’s order of the closure of the Chinese consulate in Houston, China has ordered the U.S. to shut down its consulate in Chengdu.
The flash PMI data released last Friday indicated that the manufacturing sector in the U.S. has recovered from contraction to the expansionary level while the services sector improves slightly but falling short of the expectation of recovering into the expansionary level in July. However, growth in business activities have impeded by an increased rate of decline of new orders due to the return of COVID-19 containment measures.
- Flash Manufacturing PMI (Actual: 51.3, Forecast: 52.0, Previous: 49.8 revised from 49.6)
- Flash Services PMI (Actual: 49.6, Forecast: 51.0, Previous: 47.9 revised from 46.7)
The U.S. durable goods orders m/m data will be released later at 2030 (SGT).
- Core Durable Goods Orders m/m (Forecast: 3.5%, Previous 3.7% revised from 4.0%)
- Durable Goods Orders m/m (Forecast: 7.0%, Previous 15.7% revised from 15.8%)
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