On the hourly chart the pair has broken the uptrend drawn from the April 3 low at 0.9373
Chris Weston
Pepperstone
On the hourly chart the pair has broken the uptrend drawn from the April 3 low at 0.9373. The pair is also right on the 38.2% retracement of the move from 0.9205 to 0.9461 at 0.9363 and a failure to re-claim this level could suggest short positions. At midday we get a raft of Chinese economic data, with retail sales (expected to grow 12.1% yoy), fixed asset investment (+18%), industrial production (+9%) and Q1 GDP (+7.3%). The economist range for GDP is 6.8% to 7.7%, which seems fairly wide for a number that is usually so accurately predicted. Comments from a Chinese state researcher yesterday suggest the print should be in-line with consensus.
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Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market price action and advise on actionable trade ideas and investments in multiple asset classes.
Chris Weston
Head of Research
Pepperstone
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
Chris Weston
Head of Research
Pepperstone
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
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