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Session Recap: China GDP misses estimates; Gold & Oil plummet

FXstreet.com (Barcelona) - Commodities selling off today in Asia-Pacific resuming the pounding started earlier last week was at center stage, with Oil last below the $90 key mark, down already -2.37% for the session so far, and -6% in last 3 days. Gold in the other side cracked below key $1450 mark, down more than -10% in last week, while Silver lost the $25 handle.

Lower than expected China GDP figures was the other upset of the Asia-Pacific session, being +7.7% when consensus was for a +8% advance on yearly basis, pushing USD and Yen higher across the board, while local share markets show loses overall, with Nikkei index down -1.19%, and Hang-Seng -1.64%. US futures also printed fresh session and 3-day lows.

AUD/USD came to as lows as 1.0415, EUR/USD to 1.3064, USD/JPY to 97.54, GBP/USD to 1.5306 and NZD/USD to 0.8475, while USD/CAD rose to 1.0197, and USD/CHF to 0.9307.

Main headlines in the Asian Session:

Berlusconi: I’ll stand again if a snap election is called

Who will be the next Fed Chair? Updating the odds

US Treasury warning sends USD/JPY lower

UK data: April Rightmove House Prices +2.1% m/m (vs. +1.7% prior)

Bloomberg: Ex-Soros Adviser Says BOJ’s Bet on Massive Easing Will Backfire

BoJ Kuroda speech: Working to reach 2% inflation in 2 years

Australia Home Loans up to 2% in Feb from -0.3%

Commodities Brief: Gold & Silver resume the pounding

China GDP Q1 misses expectations

Forex: AUD/USD hammered on China GDP

China Stats Office Says Q1 Slowdown Due to Global Situation and Domestic Policy Adjustments – Reuters

Forex: EUR/USD dips below 1.3100 on economic slow down fears

Forex: EUR/JPY, stops below 127.70 tripped

Forex: USD/JPY breaks initial support of 97.95, now down 75 pips at 97.67

Japan Feb Industrial Production (YoY) down to -10.5% vs -5.8%

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Singapore Retail Sales (MoM) increase to 3.6 in Feb from -1.4

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