Netflix, Inc. was a market darling in 2015 with the company’s shares rising more than 100 percent over the course of the year. The company’s dominance in the streaming market and ability to hook users on quality original programming gave the firm a leg up against competitors and gave investors reason to believe in the company’s future plans.
China’s (FXI, quote) economic growth is predicted to further decelerate this year to 6.7 percent, the slowest since 1991, trapped by manufacturing overcapacity and sluggish export, said a think tank report on Tuesday.
The EURUSD pair had a very volatile Monday, as we initially tried to rally, but turned back around to crash into the 1.08 level, and the 50 day exponential moving average.
The AUDUSD pair fell during the day on Monday, reaching towards the bottom of the ascending triangle that we have been trading in.
Today’s Key Economic Data
If traders drifting back to their desks for the start of the new trading year were expecting a quiet start, Chinese economic news delivered a shock to global markets with the Caixin Manufacturing index coming in below expectation at 48.2 against a forecast of 48.9, with the Nikkei 225 falling almost 600 points to close at 18,450.98 on the release.
Today’s Key Economic Data
AUDUSD continued its sideways movement in a range between 0.6907 and 0.7439. As long as 0.7439 resistance holds,
EURUSD is in uptrend from 1.0517, the fall from 1.1059 is likely correction of the uptrend.
The USDJPY pair fell during the course of the session on Thursday, as we continue to grind our way down to the 120 handle.
