- Chinese industrial production weaker at 7.2% y/y vs. 7.6% estimate
- Chinese retail sales up by 11.7% in Nov as expected
- Chinese fixed asset investment up by 15.8% in Nov
- Japan’s industrial production revised from 0.2% to 0.4% in Oct
- Euro zone industrial production and employment change data due
Looks like the dollar is still king! The U.S. currency was able to advance further against most of its forex rivals, as risk sentiment took over price action in the past few hours. USD/JPY is up 0.25% and is testing the 119.00 handle, EUR/USD is down 0.11% just a few pips below the 1.2400 mark, and USD/CHF is up 0.13% so far.
In China, industrial production figures came in weaker than expected for November, as factory output slid from 7.7% to 7.2% year-over-year in November, lower than the estimated 7.6% reading. Retail sales came in line with expectations of an 11.7% gain while fixed asset investment also reached forecasts of a 15.8% increase.
Japan had its share of good news, as the industrial production report for October was revised higher to show a 0.4% increase from the initially reported 0.2% uptick. This didn’t seem to be enough to lift the yen’s spirits though, as EUR/JPY is up 0.11% and GBP/JPY is enjoying a decent 0.15% gain.
The forex calendar shows that there are no major releases lined up for today’s London trading session, with only medium-tier data such as the euro zone industrial production report and U.K. CB leading index due. In any case, watch out for any hits or misses as these could have an impact on market sentiment.
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