CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Chinese growth slows to near 30-year low; FTSE at 7500

09:32 15 July 2019

Summary:

  • Chinese GDP slows to 6.2% Y/Y

  • Copper reacts positively to other Chinese data

  • FTSE pulls back to 7500 

 

The pace of growth in the world’s second largest economy has slowed to its lowest level in almost 30 years with Chinese GDP for the second quarter falling to +6.2% year-on-year. This is the lowest reading since 1992 and with most of the weakness coming from exports it appears that the ongoing trade tensions with the US are taking their toll. While the slow down is clearly not good news, it had been widely expected and as such came as no surprise. Traders seemingly focused more on the latest industrial production and retail sales figures which were released simultaneously with the GDP data and both beat forecasts. There was little by the way of an immediate adverse market reaction as Chinese stock benchmarks actually ended the session in the green with the CSI 300 index closing up by 0.9%. 

Copper prices which can be seen as a proxy for the Chinese economy have gained in response to the data. 5740 remains a potentially key support. Source: xStation  

 

Sports Direct delays results; shares plunge

Stocks in London are pretty much flat at the start of the week with the FTSE 100 trading around the 7500 mark. One of the biggest movers comes from the mid-caps with Sports Direct in the headlines after the retailer announced that it will be delaying the publication of its annual results. These sort of postponements are rarely due to good news and with the firm blaming the current uncertainty over the future financial performance of House of Fraser for the hold up there’s a good chance that investors are set for a negative shock. Shares have tumbled in response, with the stock down more than 10% on the day.

UK stocks have pulled back to the 7500 level after respecting the 78.6% fib region around 7612. The 61.8% fib is at 7382. Source: xStation 

 

 

 

This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Back