Never miss a story from David Cottle

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to David Cottle

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

Talking Points:

  • Asian stocks put in a narrow, mixed session
  • Chinese growth data met expectations, and retail sales exceeded them
  • Industrial production however underwhelmed

Find out what makes the best traders stand out from the rest with the DailyFX guide to the Traits of Successful Traders

Asian markets put in a mixed showing Tuesday, with most major bourses drifting lower.

The day’s main data release was official Chinese Gross Domestic Product for the first quarter. GDP rose 6.8% on the year, as expected, with retail sales also surging. Industrial production however was somewhat softer. Its 6% rise was the weakest since last August.

The Nikkei 225 ended the session higher, but only just, rising 0.06%, with the ASX 200 flat and Chinese stocks lower. The return of risk appetite in Monday’s US session – on a combination of relief at the apparent end of western airstrikes on Syria and hope for the corporate earnings season- failed to follow through into Asia.

The US Dollar was broadly weaker, although its Australian and New Zealand cousins went lower too, possibly spooked by rising Chinese borrowing costs. The Minutes of the last monetary policy meeting at the Reserve Bank of Australia once again revealed a central bank in no hurry at all to raise interest rates and they sent the Aussie lower too.

The UK Pound’s bullish run endures with hopes for strong local economic data and US Dollar weakness propelling GBP/USD up to new highs not seen since the shock Brexit referendum in 2016.

Asian Markets Mixed After China GDP, UK Data In GBP Sights

Oil prices were steady, reportedly with investors fretting the possibility of more supply disruption in the Middle East. Gold prices slipped back a little, although ongong trade tensions provided some support.

Coming up on the data schedule for Tuesday are Germany’s ZEW business survey, those UK employment data along with US housing starts and industrial production figures.

Whether you’re new to trading or an old hand DailyFX has plenty of resources to help you. There’s our trading sentiment indicator which shows you live how IG clients are positioned right now. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There’s also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they’re all free.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter@DavidCottleFX or use the Comments section below to get in touch!