Trading Video: Risk Trends Flagging Despite Greece Approval, China GDP
• China's GDP and assorted economic indicators beat forecasts, but that didn't hearten capital markets or AUD
• After a late vote, Greece's Parliament approved the Eurozone reform proposals; but the Euro still slipped
• Moving forward, the flagging risk appetite view and stand out moves from GBP, CAD and NZD are top interest
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We passed through a dense round of key events and the market didn't response as expected. An uptick in Chinese GDP didn't capital markets or the Aussie Dollar, the Greek parliament's approval of the bailout reforms left the Euro floundering and Yellen's efforts to hammer home the expectations of rate hikes in 2015 didn't unnerve equity traders or light a fire under the Dollar. These are no doubt key themes, but the events themselves do not redefine the bearings behind them. That doesn't mean, however, that complacency is impervious. Breakout velocity will be found on all, and likely through unexpected means. Meanwhile, risk trends have noticeably flagged as the incredible equity rally to start the week has decelerated to a crawl. A reversal could shake up a good portion of the market. Elsewhere, we have standout movements from the British Pound, Canadian and New Zealand Dollars. What should we watch for? We discuss that in today's Trading Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.