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China is scheduled to its key economic data on Friday and any downside surprises in the data are likely to weigh on the commodity currencies, mainly the Australian dollar (AUD).
The economic slowdown in China has affected the growth of exports in other Asian countries, especially in Japan.
The U.S. dollar is expected to hold its own as a safe-haven currency in the near term as risk aversion in the global financial markets remains amid the euro zone's troubles.
The U.S. dollar’s status as a safe-haven currency in risk aversion mode gains momentum again, as investors avoid risky assets amid intensifying concerns over the euroarea crisis. Besides, other safe-haven currencies such as Japanese yen (JPY) and Swiss franc (CHF), which also attract investors’ att...
German economic growth rose well above expectations in the first quarter this year, proving that the contraction in country’s gross domestic product (GDP) in the fourth quarter last year was not the start of recession.
The euro (EUR) rose against its major counterparts on Tuesday following the release of better-than-expected growth data in Germany and eurozone, although concerns over Greece exiting the eurozone remain intact weighing on the single currency.
The downtrend in the euro (EUR) seems set to last in the coming weeks as the single currency continues to come under pressure due to political uncertainty, sovereign debt crisis, and deepening recession in the eurozone.
The slowdown in the economic activity of China continued in April as the weakening external demand and domestic consumption hit the industrial activity in the world’s second largest economy to reach its lowest level since May 2009, showing evidence that decelerating growth in the country is to yet find the bottom.
The slowing Chinese economy seems to have not yet found a floor as the latest trade data shows further evidence that the world’s second largest economy is still struggling to post a strong rebound.
The euro (EUR) continues to weaken against the U.S. dollar (USD) due to growing concerns over the political and economic situations in the region, with the latest dismal data and elections in France and Greece likely to put further downward pressure on the single currency.
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