OctaFX | OctaFX Forex Broker
Open trading account
Back

Eurozone’s exposure to China is not significant – ECB’s Draghi

FXStreet (Mumbai) - President Draghi, while addressing a question on China slowdown, said a marked slowdown in China would have a negative impact on the Eurozone through different channels – direct, indirect, confidence, and financial.

Draghi said EZ’s total exports to China are just 6% of the total exports, but mentioned some countries like Germany have a larger exposure (10% of exports to China). Thus, a slowdown in China would have direct impact on countries like Germany.

Furthermore, a slowdown in China would kill commodity prices and therefore poses downside risk to inflation – an indirect channel, Draghi said.

The president added further that a marked slowdown in one of the biggest economy in the world could rattle confidence in the financial markets and business confidence.

United States Housing Price Index (MoM): 0.3% (August) vs previous 0.6%

United States Housing Price Index (MoM): 0.3% (August) vs previous 0.6%
Read more Previous

WTI Crude: Love for downside still in place - Westpac

David Coloretti, Research Analyst at Westpac, note that the WTI Crude (1st Future) rejected the top of its 2 month range at 50+ in October, completing a bearish ST price pattern, while holding range highs in ST momentum (RSI).
Read more Next
Start livechat