Data as the week’s trading kicks off, included Japanese GDP and the preliminary figure for Q2 showed an impressive 4% compared to previous of 1.5% and expected of 2.5%. China as well reported a number of data, amongst which we saw softer industrial production and retail sales.
As an overall gauge of sentiment this morning we see that the major asian equity indices were mostly in positive territory.The Japanese Nikkei was not impressed by the strong Japanese GDP figures but was reacting after a public holiday.
The USD is currently on the bid after closing in negative territory last week after softer than expected inflation data. The geo-political tensions continue in the background but tend to be seen as less of an immediate impact.EURUSD is currently at 1.1813, still holding within sight of 1st August highs of 1.1909.
Today’s economic docket is relatively quiet now with EZ industrial production being the most of impact.
