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European markets and US futures in “risk-off” following China GDP

FXstreet.com (Barcelona) - The German DAX 30 (-0.84%), the French CAC 40 (-1.02%), the Italian FTSE MIB (-1.00%) and the Spanish IBEX 35 (-0.87%) are affected by the poor Q1 GDP figure in China that eased from 7.9% to 7.7%, against consensus of 8.0 (QoQ data came in at 1.6% - consensus of 1.9%). Equity indexes in Europe are in “risk-off” mood and so are the American futures such as the S&P 500 (-0.59%), Nasdaq 100 (-0.48%) and Dow Jones (-0.37%).

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 either, butretail sales rose from 12.3% to 12.6%, against expectations of 12.5%.

The seasonally adjusted EMU trade surplus widened from €9.0B to €12B in February, beating the €9.9B consensus, while the non-seasonally adjusted figure moved from €-4.7B (revised from €-3.9B) to €10.4B, coming higher than the €3.0B consensus.

Forex Flash: JPY still the main show in town

This mornings institutional research comes among a lull of European economic data, giving analysts the opportunity to reflect on recent BoJ actions which have forced Yen into a key position as a market mover. Elsewhere in Europe, we have had bailout linked developments in Greece, Ireland and Portugal.
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Forex Flash: GBP/JPY buy on dips, target at 168.15 – Danske Bank

The cross is hovering over the key mark at 150.00 on Monday, dragged lower by the renewed strength from the Japanese yen coupled with an extension of Friday’s sell-off in the sterling...
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