Investors are keenly awaiting a central bank rate decision in China.
bucked the trend with a gain of 0.5%, building on the optimism from last week during the earnings season.Investors are keenly awaiting China's central bank rate decision on Monday. Market watchers polled by Reuters expect the medium-term policy rate to be left unchanged despite disappointing data last week that fuelled concerns about a global slowdown.
"However, with China's data throwing up a few concerns of late - we've seen poor import, PPI, and loan data - China's growth is very much at the heart of market moves," said Weston. Joseph Capurso, head of International Economics at Commonwealth Bank of Australia, believes the persistence of U.S. inflation would take out the pricing for near term cuts to the Funds rate, and contribute to a recovery in the dollar in coming months.
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