Forex Marketz Daily Forex News – Fully Markets Update
According to market futures, the European benchmarks will open broadly mixed despite economic data out of China that showed economic growth, for the first quarter, ever so slightly, beat expectations. European traders are also focusing on the corporate earnings season.
As of right now, market futures show that the benchmark London FTSE 100 is opening down seven points at 7,462. The German benchmark is set to open up two points and the benchmark French stock index, the CAC 40 is shown up three points at 5,531.
European traders are still focusing on U.S. corporate earnings. On Tuesday, there were mixed results crossing the news wires. Johnson & Johnson, L’Oreal and Netflix all reported first quarter numbers overnight. Shares of Netflix fell after the company provided weaker than expected guidance for the upcoming second quarter.
On today’s corporate earnings calendar, traders will watch BNY Mellon and PepsiCo. Telecomm firms like Ericsson will also release their first quarter earnings.
European Traders will Trade China’s First Quarter GDP Release
This morning, during the Asian trade session, saw key economic data released out of the world’s second largest economy, China.
Official data showed that the first quarter gross domestic product gained 6.4 percent. Traders expected the GDP to grow by 6.3 percent. This matched the GDP growth seen in the fourth quarter of 2018 but was well below the 6.8 percent seen in the first quarter of 2018.
Other data showed better than expected industrial product and retail sales numbers. China’s economy continues to grow despite soft global demand.
