The new trading week began today with a large Asian session: China’s GDP for the 2nd quarter, industrial output in June, investment in fixed assets and retail sales outside China raised the mood for investors and set the tone for the Australian and New Zealand currencies.
Investments in China’s fixed assets rose by 5.8% in June compared with the same period last year, after rising 5.6% in May. Economists had forecast growth of 5.6%.
Industrial production increased by 6.3% in June, after rising by 5.0% in May. Economists had forecast growth of 5.2%.
Retail sales jumped 9.8% after 8.6% increase in May, which is also higher than analysts' forecasts of 8.3%.
However, the Chinese GDP for the 2nd quarter had a greater significance. The economy grew by 6.2% year on year in the 2nd quarter after rising 6.4% in the 1st quarter. On a quarterly basis, the increase was 1.6% after positive figures of 1.4% in the 1st quarter. Economists had forecast growth of 1.5%.
Amid the release of Chinese statistics, the
Australian dollar rose from 0.70194 to 0.70220. At the time of writing, the Australian currency has risen to $ 0.7033.
The
Japanese yen fell by 0.11% to 108.3 yen against the US dollar, and the
New Zealand dollar, on the contrary, rose by 0.42% to 0.6721 dollars. In the Asian stock markets, the CSI300 and Hang Seng indices also found support from Chinese statistics. The Nikkei Index rose by 0.2%.
The absence of important statistics in Europe will lead to the fact that the mood of the market day will be determined by the released fundamental data of China. At the time of this writing, the
euro rose 0.03% to 1.1273 dollars.
For the
US dollar is also expecting a relatively calm day. The only indicator that deserves attention today is the production data of the NY Empire State. At the time of writing, the dollar index rose 0.03% to 96.838.
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