China’s economy maintained its momentum last quarter, as global trade and domestic demand spurred a pickup at the nation’s factories.Key PointsBig Picture

China’s economy grew faster than expected in the second quarter, putting the nation on track to meet its growth target this year and giving backing to officials in their campaign to corral oncoming financial risk.

The U.S. dollar held near a 10-month low following Friday’s dismal inflation and retail sales data. New Zealand’s currency declined after the central bank deputy governor said a weaker kiwi would help growth.

The dollar slid to an 11-month low and U.S. stocks clawed back earlier losses to reach record levels, as President Donald Trump’s economic revitalization agenda once again faltered. European shares dropped amid earnings disappointments, and gold rose to the highest level this month.

BHP Billiton Ltd., the world’s biggest mining company, reported fourth-quarter iron ore output rose 8 percent on capacity additions and supply chain improvements.

A cut by Rio Tinto Group to its full-year iron ore shipping guidance is set to bolster prices that have rebounded into a bull market on stronger-than-expected demand in China.