China GDP: ECB and 'Grexit' speculation to take a back seat - Speculation over ECB quantitative easing and Greek elections this Sunday will temporarily take a...

China GDP: ECB and 'Grexit' speculation to take a back seat - Speculation over ECB quantitative easing and Greek elections this Sunday will temporarily take a back seat today as markets await the release of major Chinese data later in the session. SPI futures point to a decline of 5pts on the open, something that is probably reflective of investor caution before this market-moving event. While movements in Chinese equities will once again be influential, they recorded their largest one-day percentage decline since June 2008 yesterday, given the data will either show the economy is tracking ahead of expectation or likely in need of additional stimulus measures from the PBoC, it will be interesting to see whether the Australian market will push higher no matter what the outcome this afternoon. As a general rule of thumb the GDP figure will be most influential with monthly industrial production data also a market-mover. (VIEW LINK)