China Q2 GDP hits expectations, Industrial Production slides

Joshua Gibson FXStreet

China's Gross Domestic Product for 2018's second quarter managed to improve slightly on expectations, with the y/y figure coming in at the expected 6.7% (previous, 6.8%), but the q/q reading showed a more-than-expected improvement, clipping to 1.8% versus the forecast 1.6%, compared to the last reading of 1.4%.

Meanwhile, China's y/y Industrial Production figures for May clocked in at 6.0%, below the expected 6.5% (last 6.8%), while China's y/y June Retail Sales came in at expectations, printing at 9.0% (last 8.5%).

China's National Bureau of Statistics noted that the Chinese economy maintained a steady growth trend through the first half, which puts China on par to achieve full-year growth targets, but the NBSC was quick to point out that uncertainties from the "external environment" remain a risk.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.