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US markets retreat on China, gold increases the sell-off

FXstreet.com (Barcelona) - Shares in the US markets are submerged into the red territory on Monday, following the sharp sell-off in the gold market and the disappointing data from the Chinese GDP during the first quarter, growing 7.7% on a yearly basis vs. 8.0% expected. The US Dollar Index is posting marginal gains in the area of 82.40/45, as markets are slightly biased towards safer assets.
DowJones is losing 1.06%, followed by the S&P500 and the Nasdaq, down 1.39% and 1.57%, respectively.

Bourses in Euroland closed in a ‘sea of red’ on Chinese data. In addition, the wave of selling orders in the precious metal took a toll on the miners, dragging the indices lower. The FTSE100 led the losers, falling 0.64%, followed by the CAC40, 0.50% and the DAX, 0.41%.
The single currency keeps the 1.3070/1.3100 range on Monday, with China as the leitmotif and proving unable to break above the 1.3110/15 area.

In the commodities realm, the precious metal is tanking 8.41% at $1,375 and the barrel of WTI is following suit, retreating 2.66% at $88.86.

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