The risk appetite remains slightly positive, struggling to defend the previous day’s optimism, as market players brace for this week’s top-tier data/e
and the US Durable Goods Orders, as well as the second-tier housing and activity data, are the key catalysts probing the optimists of late, especially amid a light calendar and dead news line.
On the same line, the US 10-year Treasury bond yields seesaw around 4.20%, pausing a two-day losing streak from the highest level since 2007, following the biggest daily slump in three weeks. As per preliminary readings of the US S&P Global Manufacturing PMI dropped to 47.0 for August from 49.0 versus 49.3 market forecasts whereas the Services counterpart also edged lower to 51.0, compared to 52.2 expected and 52.3 marked the previous month. With this, the S&P Global Composite PMI for the US eased to 50.4 for the said month from 52.0 prior and the analysts’ estimations. Further, US New Home Sales change rose to 4.4% MoM for July versus -2.5% previous readings.
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