In Line Chinese Growth

Morning Report: 06.30 London

• This morning, Chinese GDP came in at 6.7%, in line with expectations, but still the lowest reading since 2009. It paints a general picture of a slowing but stable Chinese economy. Industrial production came in slightly above expectations at +6.8%. The Australian dollar has been the big winner this morning with its close links to China, with the AUD/ JPY extending recent gains.

• Elsewhere, the USD/JPY is on the rise once more, while the dollar index holds firm at the lows.

Coming up today:

• Coming up today we have Canadian manufacturing at 13.30.

• At the same time we have the US Empire State manufacturing index, followed by capacity utilisation at 14.15 and industrial production at 14.15. Following this we get preliminary UoM consumer sentiment at 15.00.

Trade Idea:

• The Euro came in for some heavy selling this week, but the EUR/USD’s general trend since March is higher.

                     

It might pay to buy the dips here and a good way to play this is a HIGHER trade predicting that the EUR/USD will close above 1.1300 in 14 days for a potential return of 129%.

                          
                                                         

Disclaimer: This financial market report is intended for educational and information purposes only. It should not be construed as investment or financial advice and you should not rely on any of its content to make or refrain from making any investment decisions. The views expressed in this report are those of the author and do not necessarily reflect the views or position of Binary.com accepts no liability whatsoever for any losses incurred by users in their trading. Binary options trading may incur losses as well as gains.