|
|
|
|
2012-10-18 02:13 GMT
China's Q3 GDP in line with estimates at 7.4%; Q3 print slightly better-than-expected
Chinese Real GDP for 3Q came as expected, printing 7.4% y/y growth - previously 7.6% y/y , hich had been the lowest reading since March 09. The Q3 seasonally adjusted number, however, came above expectations at 2.2% vs 1.8% consensus.
While China's economy slows, data can be perceived as slightly better-than-expected, with QoQ numbers strengthening above cooling calls. Adds to signs China economy is bottoming. Ind Production came upbeat at 9.2% vs 9.0% exp, Fixed Investment better stood at 20.5% vs 20.2% expected, while retail sales were much better at 14.2 vs 13.2%.
Chinese Premier Wen noted that China's Q3 economic situation was 'relatively good' and that economic growth was stabilising. A better than expect GDP print will be positive for risk appetite, particularly given how far Chinese growth expectations have fallen over recent months. AUD, NZD and Asian currencies would push through recent highs on such an outcome.
Read More
|
|
2012-10-18 08:30 GMT
United Kingdom. Retail Sales
2012-10-18 12:30 GMT
United States. Unemployment Claims
2012-10-18 14:00 GMT
United States. Philadelphia Fed Manufacturing Survey
N/A
Spanish 10-y Bond Auction
|
2012-10-18 04:39 GMT
EUR/AUD dip stalls at 1.26 as Asia turns ‘risk on’
2012-10-18 01:38 GMT
AUD/JPY staying bid above 82.00
2012-10-18 00:36 GMT
EUR/JPY consolidates at 4-wk highs
2012-10-17 23:14 GMT
USD/JPY surges above 79.00
|
|
|
|
|
|
|
|
|
|
SUMMARY
Down
|
TREND
Downward
penetration
|
MA10
Bearish
|
MA20
Bearish
|
STOCHASTIC
Oversold
|
|
|
|
|
MARKET ANALYSIS - Intraday Analysis
Technical Summary: The pull back from yesterday’s high might be considered as price retracement from major uptrend formation. Pair is quoting roughly -0.17 % below its opening price and our short term outlook is negative today.
Main scenario: Current downside formation is limited by next support level at 1.3064 (S1). Break here is required for further depreciation towards to our targets at 1.3027 (S2) and 1.2992 (S3) in potential.
Alternative scenario: We see potential for further appreciation towards to next targets at 1.3163 (R2) and 1.3199 (R3) if it manage to overcome our next resistance level at 1.3125 (R1).
-
|
|
|
|
|
|
SUMMARY
Down
|
TREND
Downward
penetration
|
MA10
Bearish
|
MA20
Bearish
|
STOCHASTIC
Neutral
|
|
|
|
|
MARKET ANALYSIS - Intraday Analysis
Technical Summary: GBPUSD tested negative side today and we are not expecting major changes in current tendency. Not many macroeconomic data releases expected today however UK Retail Sales announcement at 08:30 GMT might bring additional volatility.
Main scenario: Next support could be found at 1.6114 (S1), clearance here is required to attack lower targets at 1.6099 (S2) and 1.6083 (S3).
Alternative scenario: If the pair can breach our next resistance at 1.6142 (R1), we suggest next target at 1.6157 (R2) and any further rise would then be limited by last resistance at 1.6172 (R3) intraday.
-
|
|
|
|
|
|
SUMMARY
Up
|
TREND
Up
trend
|
MA10
Bullish
|
MA20
Bullish
|
STOCHASTIC
Neutral
|
|
|
|
|
MARKET ANALYSIS - Intraday Analysis
Technical Summary: The pair is under the bullish pressure, as both of our Moving Averages are aggressive towards the price trading above it. Fresh high, formed today is our next reference point for further market appreciation.
Main scenario: Key resistance is seen at 79.20 (R1). Clearance here would suggest next targets at 79.32 (R2) and 79.43 (R3).
Alternative scenario: The downside trend evolvement is limited by next support level at 79.08 (S1), break here might lead to the targets execution at 78.97 (S2) and 78.86 (S3).
-
|
|
|
MARKET INFORMATION AND OPINIONS: Any information provided by FXCC
on this newsletter, including but not limited to news, research, opinions, analyses
and prices, is provided as commentary on the Forex market generally -- in other
words, it is not, and should not be considered as, investment advice. Consequently,
FXCC shall not be liable for any loss or damage, including but not limited to loss
of profits, which arises directly or indirectly from reliance upon or use of information
contained on this newsletter.
RISK WARNING: Trading in Forex and Contracts for Difference (CFDs) is highly speculative
and involves substantial risk of loss. It is possible to lose all your capital.
Forex and CFDs may not be suitable for all investors. Only invest with money you
can afford to lose. Please ensure you fully understand the risks involved before
investing. Seek independent advice if necessary.
|
|
