{"id":25814,"date":"2022-04-18T06:40:00","date_gmt":"2022-04-18T05:40:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=25814"},"modified":"2022-04-18T13:26:32","modified_gmt":"2022-04-18T12:26:32","slug":"more-settles-under-1-0800","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/more-settles-under-1-0800\/","title":{"rendered":"More settles under 1.0800"},"content":{"rendered":"\t\t
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Midday Update<\/strong><\/p>

A raft of China data releases dominates trading on a very quiet Bank holiday Easter Monday, alongside risk-off trading sentiment due to the worsening Ukraine war and rising COVID cases in China.<\/p>

Shanghai reported a record number of symptomatic Covid-19 cases on Saturday and other areas across China tightened controls as the country kept up its \u201cdynamic clearance\u201d approach that aims to stamp out the highly transmissible Omicron variant.<\/p>

The Zhengzhou airport economic zone, a central Chinese manufacturing area that includes Apple supplier Foxconn, announced a 14-day lockdown on Friday \u201cto be adjusted according to the epidemic situation.<\/p>

Today\u2019s top data release, China GDP from the first-fiscal quarter surprised to the upside. China Q1 2022 GDP beat estimates at 4.8% year-on-year, against 4.4%. Quarterly GDP also came in better with a 1.3% print, against 1.3% expectations.<\/p>

Industrial production beat expectations, while Retail Sales came in worse than the market expected. Retails Sales showed that lockdown was hitting already, with a -1.6% print.<\/p>

China’s National Bureau of Statistics acknowledged the difficulties facing the economy in the month: \u201cWe must be aware that with the domestic and international environment becoming increasingly complicated and uncertain, the economic development is facing significant difficulties and challenges\u201d.<\/em><\/p>

As you would expect with much of the western world away for Easter Holiday, the major market action is happening in Asian FX. The USDJPY<\/a> pair briefly dropped earlier after the BOJ Governor commented about the central bank unease with the pace of the rising USDJPY pair.<\/p>

The EURUSD<\/a> pair is also being watched closely as it breaks under a huge multi-year trendline and starts to settle under the 1.0800 level amidst renewed strength from the US dollar index<\/a>.<\/p>

Gold<\/a> has done very well this morning and has risen within touching distance of the $1,990 level, amidst rising concerns about slow growth and inflation, and of course the Russia crisis.<\/p>

Bitcoin has also slipped on risk aversion and is now starting to settle below the $40,000 level despite a recent buying spree by Bitcoin bulls in March which sent the BTCUSD pair towards the $48,000 level.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Midday Update A raft of China data releases dominates trading on a very quiet Bank holiday Easter Monday, alongside risk-off trading sentiment due to the worsening Ukraine war and rising COVID cases in China. Shanghai reported a record number of symptomatic Covid-19 cases on Saturday and other areas across China tightened controls as the country […]<\/p>\n","protected":false},"author":4,"featured_media":9672,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[176,99,45,605,28,639,307],"yoast_head":"\nMore settles under 1.0800 - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/more-settles-under-1-0800\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"More settles under 1.0800 More settles under 1.0800\" \/>\n<meta property=\"og:description\" content=\"A raft of China data releases dominates trading on a very quiet Bank holiday Easter Monday, alongside risk-off trading sentiment due to the worsening Ukraine war and rising COVID cases in China.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/more-settles-under-1-0800\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-18T05:40:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-18T12:26:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/06\/GettyImages-1321274676_RE.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"496\" \/>\n\t<meta property=\"og:image:height\" content=\"251\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"More settles under 1.0800 More settles under 1.0800\" \/>\n<meta name=\"twitter:description\" content=\"A raft of China data releases dominates trading on a very quiet Bank holiday Easter Monday, alongside risk-off trading sentiment due to the worsening Ukraine war and rising COVID cases in China.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/more-settles-under-1-0800\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/more-settles-under-1-0800\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"More settles under 1.0800\",\"datePublished\":\"2022-04-18T05:40:00+00:00\",\"dateModified\":\"2022-04-18T12:26:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/youtrading.com\/en\/more-settles-under-1-0800\/\"},\"wordCount\":345,\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"keywords\":[\"Bitcoin\",\"China\",\"Covid-19\",\"EUR\",\"GOLD\",\"OIL\",\"USD\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/youtrading.com\/en\/more-settles-under-1-0800\/\",\"url\":\"https:\/\/youtrading.com\/en\/more-settles-under-1-0800\/\",\"name\":\"More settles under 1.0800 - 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