The USD Still Holding 97.00 For the Time Being
Rowan Crosby • 1 min read
The USD has once again pulled back above the 97.00 support level stocks were marginally higher at the end of the US session.
Earnings season saw some more mixed results from Bank of America and key tech names, with Netflix reporting after the close and showing some weakness in after-hours trade thanks to lowered guidance surrounding their subscriber numbers.
There wasn’t a strong lead in the US session and the only key data we saw was Industrial Production which was weaker than expected to come in at -0.1% MoM.
The market will be waiting for Retail Sales data on Thursday, which will be the next major talking point and one that will potentially show that the economy isn’t as bad as many had been thinking.
Asian Session Wrap
All the attention is predominately on the Chinese GDP figure which is expected to show that growth is slowing and down to 6.3%. The weakest level in decades and a concern for the Asian powerhouse.
We will also get Industrial Production at the same time which is expected to come in at 5.6% YoY.
Before we head to Europe, where we get a host of CPI releases across the continent as well as Canada in the later US session.