China ‘Still Set For Healthy Growth’
Premier Li Keqiang said China is confident of keeping its annual growth rate around 7 percent for a fair period of time by persisting with its reform and opening-up and tapping its huge potential.
Premier Li Keqiang said China is confident of keeping its annual growth rate around 7 percent for a fair period of time by persisting with its reform and opening-up and tapping its huge potential.
With the US dollar continuing to remain under pressure, despite last week’s positive jobs data, and with various central bank governors adding their weight to the mix, it’s a good time to take a quick look at our four major currency futures of the AUD/USD, CAD/USD, EUR/USD and the GBP/USD.
Regardless of what asset you are using to build a portfolio or trade having a clear idea of its risks and rewards are very important. However, understanding yourself is even more paramount.
The EURUSD pair fell initially during the course of the day on Tuesday, but found enough support near the 1.12 level to turn things back around and form a hammer.
The AUDUSD pair went back and forth during the course of the day on Tuesday, essentially settling nothing.
EURJPY (quote) has been moving sideways since the start of the month, as price found support at the 139.00 major psychological level and resistance near 141.00.
China’s consumer price index (CPI), a main gauge of inflation, grew 1.2 percent year on year in May, the National Bureau of Statistics (NBS) said on Tuesday.
The AUDUSD pair broke higher during the course of the day on Monday, clearing the 0.77 level.
GBPUSD could be done with its short-term selloff since the pair is creating a double bottom reversal formation on its 1-hour time frame.
AUDUSD is testing 0.7532 support, a breakdown below this level will signal resumption of the long term downtrend from 0.9504 (Jul 1, 2014 high),