Latest Market News: 18th July 2023
China GDP came out at a good sounding, despite being below market expectations, annual growth rate of 6.3%. Market had been hoping for 7.3%, but this is just a failure in understanding of the long term shift that has already occurred in the China economy.
Last week’s US disinflation shock altered the FX landscape, but a few days without key data releases will tell us whether that impulse can keep the dollar on the back foot as the FOMC risk event draws nearer.
EUR/USD is currently trading at its highest levels since early 2022, and according to CFTC data, pre-CPI positioning on EUR/USD was already significantly long (+19% of open interest). Additionally, my financial fair value model, which considers rates and equity factors.
Watch the video for the key trading levels for the week ahead for USDCAD, USDCHF, USDJPY, EURGBP, NZDJPY, and NZDUSD.
Join Senior Market Strategist & Trading Mentor Duncan Cooper as he watches price levels on the?AUDUSD ?daily and 15-minute charts.
Join Senior Market Strategist & Trading Mentor Duncan Cooper as he watches price levels on the?USDJPY ?daily and 15-minute charts.
China's GDP Falls Short of Expectations: The Reality Behind the Numbers by Clifford Bennett :
Level Up Your Trading Skills with This Free Forex Webinar - Sessions this Week 18-20 July
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