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Chinese economic slowdown stabilises
 
cordieliea2
posted on 10/18/2012 4:56:32 AM | 219 reads  | Post #154586
 

 

Morning Report: 08.30 London

• The main news item overnight relates to the ongoing slowdown in t he Chinese economy. Quarterly GDP came in at 7.4%. The rate is the seventh consecutive quarter of slowing growth, but economists are confident that the slowdown is stabilising. Retail sales and industrial production both increased in the last quarter and the current rate of 7.4% is still the envy of established economies.

• The Australian dollar is the biggest gainer this morning thanks to its close ties to China, with the AUD/JPY up 0.24%.


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• The yen pairs are the main movers, with the USD/JPY up 0.1% and similar moves in the EUR/JPY and GBP/JPY.


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Coming up today:

• The main item to keep note of today is the EU economic summit which will be no doubt pumping out quotes and leaks throughout the day. Also keep an eye out for the Spanish 10 year bond auction.

• Also coming up, we have UK retail sales at 09.30 with a rise of 0.4% expected.

• US unemployment claims follow at 13.30, with Philly Fed manufacturing index due at 15.00.

Bet Idea:

• The latest EU economic summit takes place as more protests are planned in Greece. The bigger picture solutions are still yet to be agreed upon, but they must come at some point if Europe is to pull through in the long term.  That said, in the short term, traders appear to be optimistic. A familiar pattern with these summits has been for big bold statements to lift the euro in the short term, only for them to become unwound in the weeks after.


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• With the summit starting today, there is the potential for some short term uplift as the strong messages are released from today’s summit.

A good way to play this could be a HIGHER trade on the EUR/USD predicting that the pair closes above 1.3100 in 1 days time for a potential return of 115%.


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This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice.
Summary:


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Pacific North West Capital Corp.
Pacific North West Capital Corp. (TSX: PFN; OTCQX: PAWEF; Frankfurt: P7J) is a mineral exploration company focused on the discovery, exploration and development of PGM and nickel-copper sulphide deposits in geologically prospective regions in North America, particularly Canada. The Company's key asset is its 100% owned River Valley PGM Project in the Sudbury region of northern Ontario. The River Valley Project is one of North America's most advanced primary PGM deposits...