China’s March data reveals that Retail Sales were a huge blow, vs. what was expected.
Industrial Production -1.1% y/y expected -6.2%
industrial production YTD 8.4% y/y expected -10.0%, prior was -13.5%
Fixed Assets (excluding rural) YTD -16.1% y/y, expected -15%, prior was -24.5%
Retail Sales -15.8% y/y, expected -10.0%
Retail Sales YTD -19.0% y/y, expected -12.5%, prior was -20.5%
What does this mean to you?
Well, China was hit by the COVID-19 virus before anyone else 1 or two months in advanced. The above figures can give some kind of indication of how the rest of the world may suffer in 1 or two months time.
Keep an eye out on this data, because there will be some serious trading opportunities ahead.
1. China GDP Falls First Time Since 1992
Shouldn’t be a huge surprise considering what’s been going on in the world, but still – this is big news. Reported at 6.8% drop, vs. 6.5% – the bigger picture here is that with the lockdown China doesn’t have anyone to sell to yet. Keep an eye on Oil.
2. European equity close: Solid gains turn the week green
UK FTSE 100 +1.6%
German DAX +2.6%
Italy MIB -2.2%
French CAC +1.0%
Spain IBEX -1.2%
3. GBP/USD: Healing process for Boris and the pound
GBP/USD has hit the highest in a month amid PM Boris Johnson’s discharge from hospital and US dollar weakness.
4. Coronavirus: US dollar could benefit from a prolonged recovery
US and China will want to get their economies moving as quickly as possible and that will only be possible if each side cooperates in fulfilling the agreement. There should be no new disputes on the trade front.
5. Berkshire Hathaway top exec says it’s not being aggressive: “Everybody’s just frozen”
Charlie Munger spoke to the Wall Street Journal The world is awaiting word from Warren Buffett about what Berkshire Hathaway is doing. A buying signal from the world’s greatest investor would go a long way.
Trading Is Complicated.
We Make It Easy.
Whether you’re a beginner, expert, or anything in between, Alphaex Capital is here to help.
Here’s how we make trading easy:
• INSIDER is our free, weekly premium newsletter. (You’re already in)
• FOREX TRADING COURSE is our free premium trading course that gives you access to step-by-step lessons on how to dominate the markets.
• FOREX TRADING STRATEGY GUIDE is our best-selling guide. This is for traders who are serious about finding high-probability trading opportunities, utilising the best-proven trading strategies, and who desire more structure and accountability. This will take you to the next level.