There were no data releases from Australia yesterday. Chinese investors are buying up assets in Australia from housing to ports to agriculture. One area where that trend is particular noticeable: Chinese investment in Australia's agricultural sector went from $300 million to more than $1 billion over the past year. Part of what's driving that trend is Chinese investors looking to Australia as fertile ground to produce goods that they'll sell back in China.
There's heavy demand from China's booming middle class for Australian-produced fruits, meats, wine, dairy and minerals. In fact, those shoppers have grown to trust "Made in Australia" on the whole. After outbreaks in China from tainted infant formula, Australian-produced formula has been a market winner for Chinese consumers.
There will be no major data releases both from Australia and USA tomorrow, so we expect a bit steadier session.
UK still likely to leave the EU with a negotiated agreement, says Number 10
Sentix Investors Confidence rose to 14.7 in August
German factory orders -4.0% seasonally adjusted on the previous month
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
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