Risk On Taking A Breather After Weak China Data

Risk On Taking A Breather After Weak China Data




By City Index (Matt Simpson)Forex14 hours ago (Sep 10, 2019 03:07AM ET)

Minor ranges across FX markets saw all monitored pairs remain within their typical daily ranges, ahead of UK and European open.USD/JPY hit a 6-week high and remains firm, USD/CHF only made a marginal 6-week high before returning back within yesterday’s range.North Korea fired short-range projectiles today according to South Korean officials. This comes within hours of NK saying via a statement they’re willing to restart denuclearisation talks.China threatened ‘military response’ if a UK warship travels through waters in the South China Sea.NZD is the strongest major on the back of firmer electronic retail sales. August sales rose 1.1% versus 0% expected, and up 2.8% on the year compared with 1.6% expected.Asian stock markets have traded in a mix fashion in line with a flat session seen in the overnight key U.S. stock indices after last week’s gains of 2.5% to 2.8%.Also, weak economic data from China has indicated further deflationary pressure that may have led to some profit-taking activities. China’s producer price index has dropped to -0.8% y/y in Aug from -0.3% y/y in Jul; the worst y/y contraction in three years.The China A50 is the worst performer so far follow by its one of its proxies, Australia’s ASX 200 that has shed -0.74% as at today’s Asian mid-session; dragged down by technology and healthcare stocks.At the other end of the spectrum, Singapore’s STI and Korea’s Kospi 200 has managed to post modest gains of 0.36% and 0.26% respectively.The S&P 500 E-min futures has continued to pull-back from yesterday’s high of 2991 printed in the European session. It has inched down slightly by -0.10% to print a current intraday low of 2975 in today’s Asian session.

Up Next:

GBP was given a boost with yesterday’s stronger than expected GDP print. Today we get to see if it can extend its momentum with employment data. Unemployment rose to 3.9% in June, although is expected to remain steady this month. So, it may require a print of 3.8% or less to keep those GBP juices flowing.Average weekly earnings (an inflationary input) is expected to soften, so anything from 3.9% or higher warrants attention.

Original Post

Risk On Taking A Breather After Weak China Data

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

image

Our Apps

DOWNLOAD APPApp store

Investing.com

(C) 2007-2019 Fusion Media Limited. All Rights Reserved

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.

Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.

It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.