China’s first-quarter GDP figures are expected to show a contraction of 6%. Better figures may boost markets and weigh on the dollar while weaker statistics could trigger a sell-off and gains for the greenback, FXStreet’s analyst Yohay Elam reports. Key quotes “Economists foresee an outright contraction of 6% in the first quarter of 2020, mirroring the growth rate of 6% seen in the last quarter of 2019. That would be the worst in modern memory.” “If Beijing reports slower contraction than expected, a figure closer to 0%, markets would cheer, sending shares higher and the safe-haven dollar and yen lower. The Australian dollar may be one of the biggest beneficiaries as Australia depends on China more than other developed economies. Oil prices could rise on hopes for higher demand, boosting the Canadian dollar.” “Deeper damage to the economy, over 6% contraction, would weigh on equities, boost the safe-haven currencies and drive commodity currencies lower.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CHF clings to modest gains, still below 0.9700 mark FX Street 2 years China's first-quarter GDP figures are expected to show a contraction of 6%. Better figures may boost markets and weigh on the dollar while weaker statistics could trigger a sell-off and gains for the greenback, FXStreet’s analyst Yohay Elam reports. Key quotes “Economists foresee an outright contraction of 6% in the first quarter of 2020, mirroring the growth rate of 6% seen in the last quarter of 2019. That would be the worst in modern memory.” “If Beijing reports slower contraction than expected, a figure closer to 0%, markets would cheer, sending shares higher and the safe-haven dollar and yen lower.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
