FX Brief: Stronger Chinese Data Raises Risk Appetite

Blue avatar for FOREX.com guest contributors
By :  ,  

  • It is risk ON as US investors slowly come to their trading desks. Risk-sensitive NZD and AUD are among the strongest in G10 currencies, while leading the laggards once again is... yes, you guessed it: GBP.
  • Stronger-than-expected Chinese data overnight has helped to send copper, silver and stocks higher, with the S&P 500 looks set to further distance itself from the 3K mark when Wall Street opens for trading later. Although the rate of growth in China fell to a 27-year low, the +6.2% q/y reading was in line, while industrial production and retail sales easily beat forecasts.
  • Coming up: Empire State Manufacturing Index (13:30 BST): +1.6 expected vs. -8.6 in June; Speech by FOMC Member Williams (13:50), and New Zealand CPI q/q (23:45) +0.6% expected vs. +0.1% last. Company earnings will be coming in thick and fast now, starting with US banks then techs.

Related tags: Forex

Open an account today

Experience award-winning platforms with fast and secure execution.

Web Trader platform

Our sophisticated web-based platform is packed with features.

Economic Calendar