China reports economic growth below expectations — its worst pace since the financial crisis – WILL CHINA DRAG the rest to recession?
- China said on Friday its economic growth slowed to 6.5 percent year-over-year in the third quarter of 2018, missing expectations.
- Beijing’s official GDP figures are closely watched as an indicator of the health of the world’s second-largest economy, but many outside experts have long expressed skepticism about the veracity of China’s reports. Read More @ https://www.cnbc.com/2018/10/19/china-q3-gdp-china-posts-economic-data-amid-trade-war-with-us.html
China’s third quarter GDP growth slowest since 2009, misses expectations – USD MARCHES FORWARD.
China’s third quarter economic growth slowed to its weakest pace since the global financial crisis, and missed expectations, as a years-long campaign to tackle debt risks and the trade war with the United States began to bite. Read More @ https://www.reuters.com/article/us-china-economy-gdp/chinas-third-quarter-gdp-growth-set-to-hit-weakest-since-2009-amid-trade-war-strain-idUSKCN1MS3B1
WHAT IS THE USD SAYING?
The USD remains ranged at 95.50 – will the price break further after China slow growth and US becomes the economic giant now. We watch cautiously at the resistance and see what is next for the USD. We stay out of the market for now or we use tight stop losses to control and breakouts if there is. We maintain sell for the USD for “Pullback Trades”.
TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.
- 10.00am – China data disappoints the market; USD stays firm after the news of GDP <6.6%.
- 2.30pm – Kuroda – BOJ speaks – we are expecting the JPY to be back as a safe haven.
- 4.00pm – Be ready for volatility for EUR Pairs as EUR releases Current account. Expect to be good.
- 8.30pm – Canada back in the spotlight as they release their CPI & Core Retails Sales – both data is expected to be weak. Be cautious if you are Selling USDCAD.
- 10.00pm – US will release their home sales – which is a leading indicator for FED. Expected to be good.
High Risk Investment Warning:
Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.