The data release on the Spanish PMI showed a positive trend in the manufacturing sector as the measure grew by 0.1 points since the month before and showed 53.5 points which exceed expectations of 53 points. A number higher than 50 shows expansion, and operating conditions in the industrial sector of Spain have been advancing for 29 months in a
Bullion traded 0.4% higher on Monday, reaching $1,295.10 as a reaction to the Chinese manufacturing data release and the lowering chances of a rate hike. Gold is believed to be targeting the $1,300 mark which is the highest since January 2015, after expanding its gains for the second consecutive week.
Asian markets closed low on Monday with Japanese stocks leading the way, as the Yen gained strength following lack of monetary policy expansion by the BoJ. While Labour Day kept the Chinese and Hong Kong markets closed, the Nikkei index finished with a 3.1% slip at 16,147.38 points and the Topix was down 3.0% to show 1,299.96 points at a