FX Brief Stronger Chinese Data Raises Risk Appetite
A summary of news and snapshot of moves ahead of the US session.
Share this:
- It is risk ON as US investors slowly come to their trading desks. Risk-sensitive NZD and AUD are among the strongest in G10 currencies, while leading the laggards once again is... yes, you guessed it: GBP.
- Stronger-than-expected Chinese data overnight has helped to send copper, silver and stocks higher, with the S&P 500 looks set to further distance itself from the 3K mark when Wall Street opens for trading later. Although the rate of growth in China fell to a 27-year low, the +6.2% q/y reading was in line, while industrial production and retail sales easily beat forecasts.
- Coming up: Empire State Manufacturing Index (13:30 BST): +1.6 expected vs. -8.6 in June; Speech by FOMC Member Williams (13:50), and New Zealand CPI q/q (23:45) +0.6% expected vs. +0.1% last. Company earnings will be coming in thick and fast now, starting with US banks then techs.
- It is risk ON as US investors slowly come to their trading desks. Risk-sensitive NZD and AUD are among the strongest in G10 currencies, while leading the laggards once again is... yes, you guessed it: GBP.
- Stronger-than-expected Chinese data overnight has helped to send copper, silver and stocks higher, with the S&P 500 looks set to further distance itself from the 3K mark when Wall Street opens for trading later. Although the rate of growth in China fell to a 27-year low, the +6.2% q/y reading was in line, while industrial production and retail sales easily beat forecasts.
- Coming up: Empire State Manufacturing Index (13:30 BST): +1.6 expected vs. -8.6 in June; Speech by FOMC Member Williams (13:50), and New Zealand CPI q/q (23:45) +0.6% expected vs. +0.1% last. Company earnings will be coming in thick and fast now, starting with US banks then techs.
Related tags:
Latest market news
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 0.3 pts on indices.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
EUR/USD Forecast: Euro Struggles to Find Support Even After U.S. PCE Data
The euro continues to face a challenging environment in the short term. The currency has struggled to regain ground against a U.S. dollar that remains firmly supported, a dynamic reflected in EUR/USD, which has now recorded three consecutive losing sessions and a decline of roughly 0.6%.
Canadian Dollar Forecast: USD/CAD Four-Week Rally Eyes Yearly Highs 9 30 2026
USD/CAD has advanced in 14 of the past 15 sessions, but stretched momentum raises the stakes as major resistance and NFP come into focus.
British Pound Technical Outlook: GBP/USD Rebound Challenges September Downtrend 9 30 2026
Sterling has rallied sharply from key support, with GBP/USD at an inflection point that could determine whether a larger recovery is underway.
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.