What is FX Daily Report
April 13, 2012
9:00 AM EST
Good morning What Is FX traders: We certainly got a snootful of data releases overnight through this morning, and mixed results were the name of the game. Starting with China whose GDP surprise missed expectations by 2 ticks coming in at 8.1 rather than the 8.3 forecast. However, the blow was softened by higher retail sales and industrial production which looks better going forward.
Germany’s CPI came in right on the button and offered no surprises. But the UK PPI launched a rocket surprise to the upside coming in at 1.9% rather than 1.2%.
US CPI came in right on the button a few minutes ago and other than a brief sell off in the euro, has produced no notable change. As such we have no real trading opportunities setting up for the day, although we saw some nice five minute trades in the aussie after the China release. We also had great opportunity in the Sterling althogh it took a little longer to set up after the surprise PPI.
What Is FX Daily Directions
No new trade set-ups today so we will have to watch the pivot figures for some direction on the moves.
EUR—1.3132, 1.3166, 1.3231
GBP—1.5910. 1.5950, 1.6000
AUD—1.0340, 1.0395, 1.0495
What Is FX March Results: +110.0 pips
What Is FX Year-To-Date Results: +1,963.0 pips