- Stocks in Asia are trading mostly lower. Nikkei fell 1.7%, S&P/ASX 200 dropped 0.2%, while Kospi is closed due to a bank holiday. Indices from China trade mixed
- DAX futures point to a slightly lower opening of the European cash session
- Industrial production in China rose 6.4% YoY in July, the lowest rate in 11 months, and below expectations of a 7.8% rise
- China July house prices 4.6% y/y vs +4.7% prior
- PBOC injects 600B yuan via one year Medium-term Lending Facility (MLF)
- Japan Q2 prelim GDP rose 0.3% q/q while market expected 0.2% rise
- Melbourne lockdown will be extended for another two weeks
- US 10-year Treasury yields fell to 1.248%, the lowest level since end of July
- Bitcoin trades above $47,000, Ethereum topped $3,200
- Oil drops around 1% while precious industrial metals trade lower
- JPY and NZD are the best performing major currencies while AUD and CAD lag the most
GOLD price rose sharply on Friday and managed to break above major resistance at $1767 which coincides with 61.8% Fibonacci retracement of the last upward wave. If current sentiment prevails, then the next target for bulls is located at $1800. Source: xStation5
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