The rest of the North American trading day will most likely be driven by equity flows in anticipation of Chinese GDP, which is expected to fall below 8% for the first time since the first quarter of 2009. Last week’s surprise interest rate cut by the People’s Bank of China, viewed as the Chinese Bat-Signal that there is danger afoot, only served to strengthen that expectation. While the release is scheduled for 10pm Eastern Time tonight, be wary of leaked results beforehand that may cause significant moves rather unexpectedly.
fx360..com
Comments