Apr 15th 2016: In Line Chinese Growth

• This morning, Chinese GDP came in at 6.7%, in line with expectations, but still the lowest reading since 2009. It paints a general picture of a slowing but stable Chinese economy. Industrial production came in slightly above expectations at +6.8%. The Australian dollar has been the big winner this morning with its close links to China, with the AUD/ JPY extending recent gains.

• Elsewhere, the USD/ JPY is on the rise once more, while the dollar index holds firm at the lows.

Coming up today: 

• Coming up today we have Canadian manufacturing at 13.30.
• At the same time we have the US Empire State manufacturing index, followed by capacity utilisation at 14.15 and industrial production at 14.15. Following this we get preliminary UoM consumer sentiment at 15.00.

Trade Idea: 

• The euro came in for some heavy selling this week, but the EUR/ USD’s general trend since March is higher.

• It might pay to buy the dips here and a good way to play this is a HIGHER trade predicting that the EUR/ USD will close above 1.1300 in 14 days for a potential return of 129%.

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