Asian Session Recap – December 10, 2013

  • Chinese industrial production, fixed asset investment in line with expectations
  • Chinese retail sales stronger than expected at 13.7% y/y
  • Nikkei posts 0.25% loss for the day
  • French and Italian industrial production data coming up
  • U.K. manufacturing production to slow from 1.2% to 0.4% in Nov

Traders showed their appetite for riskier currencies in today’s Asian trading session, after China released economic figures that were mostly in line with expectations. Industrial production had a 10.0% annual increase while fixed asset investment jumped by 19.9% year-over-year. Chinese retail sales beat expectations and showed a 13.7% increase versus the estimate at 13.2%, allowing the Australian dollar to stay supported.

In the next few hours, we’ll see industrial production data from two of euro zone’s largest economies, France and Italy. Also due today is the U.K.’s manufacturing production figure, which is expected to show slower growth of 0.4% compared to the previous 1.2% increase. Weaker than expected results could undermine pound strength and possibly push GBP/USD below 1.6400.

See also:

US Session Recap

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