Current Market Sentiment
The main event for the Asian session was GDP from China which marginally missed estimates at 1.6% for Q4 2015 (seasonally adjusted) and 6.8% for the year. Industrial Production also missed at 5.9% versus 6.0% expected and Retail Sales at 11.1% versus 11.3% expected. Commodity currencies saw weakness after the release while the yen strengthened. However after this initial risk-off move, yen pairs and Asian equities stabilised before moving higher on the day. AUDJPY rallied 130 pips from lows. The latter half of the Asian session has seen risk appetite re-enter the market.
This article originally appeared at Jarratt Davis.