OctaFX | OctaFX Forex Broker
Open trading account

Forex: EUR/USD keeps lows around 1.3070/75

FXstreet.com (Barcelona) - The single currency is now bouncing off session lows in the boundaries of 1.3060 after the GDP figures for the first quarter in the Chinese economy came softer than expected, rising 7.7% YoY against forecasts of a rise of 8.0% and previous print 7.9%. The industrial production also disappointed, expanding at an annual pace of 8.9% in March vs. 10.0% estimated. Retail sales came in a tad better however, rising 12.6% vs. 12.5% forecasted.

Ahead in the day the EMU’s trade balance figures are due, with the consensus waiting for a €3.0 billion surplus in February.

At the moment, the cross is losing 0.28% at 1.3079 with the next support at 1.3036 (low Apr.12) ahead of 1.3006 (low Apr.9) and finally 1.2980 (MA10d).
On the flip side, a breakout of 1.3138 (high Apr.11) would expose 1.3140 (MA55d) and then 1.3150 (MA100d).

Gold does it again... comical bloodbath II

The major theme in global markets, after the major sell-off in metals last Friday, continues to be the aggressive and continuous liquidation in gold, diving again more than $50 along the open of markets in Asia. The yellow metal has printed its lowest level since April 2010, with large sector of the market agreeing to call an official new bearish era in gold.
Read more Previous

Asian markets mostly down on weaker China GDP

Mainland China’s Shanghai Composite (-0.96%), Hong Kong’s Hang Seng (-1.26%) and Japan’s Nikkei Stock Average (-0.95%) fell on Monday with the disappointing release of China GDP data, easing from 7.9% to 7.7% (consensus of 8.0%) in Q1 (YoY), while QoQ data came in at 1.6% (consensus of 1.9%). Also, Chinese urban investment (down from 21.2% to 20.9% vs 21.3% consensus) and industrial production (down from 9.9% to 8.9% vs 10% consensus) in March didn’t help the mood, unlike China retail sales that rose from 12.3% to 12.6%, against expectations of 12.5%.
Read more Next
Start livechat