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  • Global stock markets may see turbulent volatility if darkening clouds over Washington’s relations with Beijing turn into a geopolitical storm. Which assets will be the lifeboat? Find out here:https://t.co/RkFI6qAyik https://t.co/9Ppa4d48Ql
  • The Dow Jones and S&P 500 outlook appears bleak in the near term as retail traders increase their upside exposure. At the same time, these indices confirmed bearish technical warning signs. Get your market update from @ddubrovskyFX here:https://t.co/fKCHELbOxo https://t.co/e0liqVDzw6
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  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.93% 🇦🇺AUD: 0.72% 🇪🇺EUR: 0.55% 🇨🇦CAD: 0.50% 🇬🇧GBP: 0.32% 🇯🇵JPY: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rzD7Gp4VIC
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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.44%, while traders in France 40 are at opposite extremes with 73.01%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/M5ItmLXuiw
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DailyFX European Market Wrap: Is the British Economy Losing Momentum?

DailyFX European Market Wrap: Is the British Economy Losing Momentum?

Katie Pilbeam,

Growth in Britain's construction slows, Eurozone retail sales rise and we await the upcoming meeting between US President Donald Trump and China's President Xi Jinping.

There is some concern that the British economy has lost some of its momentum after the Construction Purchasing Managers' Index (PMI) dropped back to 52.2 from 52.5 in February. Marking the slowest rate of growth since a recent pick-up for the sector began in September. The survey by Markit showed growth among factories also weakened in March.

Meanwhile retail sales across the eurozone have risen, in another sign that the European economy is strengthening. retail spending rose by 0.7% during February, 1.8% higher than a year ago according to Eurostat. Spending on ‘non-food products’ was 2.8% higher, year-on-year, while spending on food, drink and tobacco rose by 0.8%

The Bank of England has warned today that longer interest-free periods and an increase in loan limits are contributing to the fastest rate of expansion in consumer credit since 2005. The bank’s financial policy committee also said “The recent rapid growth in consumer credit could principally represent a risk to lenders if accompanied by weaker underwriting standards,” and concluded that risks to the UK’s overall financial stability remain elevated.

--- Written by Katie Pilbeam, DailyFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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