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Forex Trading: Asian Session Recap and Ranges

Posted by Akhilesh Ganti on Jul 14, 2013 11:00:00 PM

A quiet start to the trading week that saw the US Dollar range bound -vs- the majors. China's second quarter GDP came out at +7.5% which was in line with market expectations but was weaker than the +7.7% reading posted last quarter. June Retail sales rose at an annual rate of +13.3% which was stronger than estimates of +12.9%. while the annual rate for Industrial production fell to +8.9% -vs- forecasts of +9.1%. The data confirms that growth in the worlds' second largest economy is in the midst of a slowdown as the government tries to avert a financial crisis by clamping down on the expansion of credit. 

China 2Q GDP

China GDP 2Q13 resized 600

China Retail Sales 

China retailsales jun13 resized 600

{charts: Bloomberg}

Ranges

071513

 

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