USDJPY Uptrend Pullback Apr 25, 2016
USDJPY broke out of its double bottom formation on the 1-hour time frame, signaling that a reversal from the previous downtrend is about to take place.
GDP
China has policy tools to anchor economy, says Li
China is set to achieve its annual economic growth target while pushing forward supply-side reform, Premier Li Keqiang said on Wednesday.
Growth To Hit 6.7% Due To Woes In Manufacturing, Export
China’s (FXI, quote) economic growth is predicted to further decelerate this year to 6.7 percent, the slowest since 1991, trapped by manufacturing overcapacity and sluggish export, said a think tank report on Tuesday.
Wednesday Key Economic Data
Today’s Key Economic Data
Breaking News – U.S. GDP
U.S. Q3 Advance GDP Price Index q/q down to 1.2% vs 1.5% growth expected and Advance GDP q/q 1.5% to expectations of 1.6%.
China’s GDP Expands 6.9% In Q3
China’s economy posted a 6.9-percent growth year on year in the third quarter of 2015, lower than 7 percent in the first half of the year, the National Bureau of Statistics (NBS) announced on Monday.
Volatility & The Euro
So far in this morning’s forex trading session it’s been a case of selling the euro and buying the commodity dollars, with a strong move lower also in the EUR/JPY, although this bearish sentiment towards the euro has not been as strong in eurodollar.
China’s Inflation Edges Down To 1.2% In May
China’s consumer price index (CPI), a main gauge of inflation, grew 1.2 percent year on year in May, the National Bureau of Statistics (NBS) said on Tuesday.
US Dollar Surges Higher As Bullish Momentum Returns
Friday’s speech from Fed chair Janet Yellan rounded off a seminal week for the markets, with the US dollar bulls returning in force as her comments continued to confirm the prospect of an interest rate rise during 2015, provided economic data continues to support the mild recovery for the US economy.
China’s Central Bank Cuts Rates
Overnight China’s Central Bank surprised markets with a 25 basis point rate cut for 1 year deposits as well as the 1 year lending rate cut of 40 basis points.