In July, the automotive industry's bubbling sales numbers cooled down. Economists are confused and differ in their opinion, regarding, whether that signals at another record year or staggering sales at the edge of a slump.
Among the Asian currencies, the Korean Won and the Malaysian Ringgit gained vs. the dollar following news that the Federal Reserve plans to adopt a gradual pace in tightening the monetary policy in the country.
The U.S Treasury's auction of two-year notes failed to generate expected steam as demand remained the lowest since 2008. It resulted mostly because bond traders bet that this week, Federal Reserve policy makers will admit there are signs of economic strength which has a direct relation to the Federal Reserve's consideration of an increase in the interest rate this year.
The Chinese government is putting in efforts to stabilize the currency markets. The central bank of the country adding verbal support to the exchange rate following a drop in the currency's value in the past week against the green back to point that was lower than a key level.