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Forex Flash: China GDP eyed - Wesptpac

FXstreet.com (Barcelona) - According to Westpac: "The headline China GDP is usually quite close to consensus, which is 8.0% y/y, from 7.9% in Q4, with Westpac’s formal forecast of 8.5% y/y the highest in the market (Bloomberg range 7.5-8.3%), derived from a 2.1% q/q estimate, which is about steady with the Q4 pace."

Westpac adds: "However, given the impact of “smoothing” to maintain relative stability in the headline GDP, a number nearer 8.25% might be more realistic. This would still be enough to produce a knee jerk bounce in AUD, NZD and Asian currencies. Released along with GDP are March partial data: IP, fixed asset investment and retail sales."

Forex Flash: Euro's upside correction remains intact - BBH

“The euro's upside correction remains intact. A convincing move above the $1.3115-20 area will signal the start of the next leg up that is worth at least another cent and maybe 2”, noted Marc Chandler, Global Head of Currency Strategy at BBH. Additionally he mentioned, “Ideally, the euro holds above the $1.3020 area, but it may require a break of $1.30 to undermine the correction.”
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