China’s exports grew at their fastest pace in nearly 1-1/2 years in August, suggesting manufacturers are rushing out orders ahead of tariffs expected from a growing number of trade partners, while imports disappointed amid weak domestic demand.
The global economic landscape, characterized by a downturn in manufacturing and increasing caution in financial markets, sets the stage for the dollar’s recovery.
The yellow metal benefited from safe haven buying following a severe risk-off move across markets last week, which was triggered by concerns over slowing economic growth.
Crypto markets saw outflows totaling about $726 million in the past week- their biggest weekly outflow since March, data from digital assets manager CoinShares showed on Monday.
Given the dominance of U.S. data, traders were also focused on Wednesday’s inflation report, which could provide clarity on the size of the Federal Reserve’s rate cut when it meets next week.
