Commodities not impressed by China GDP data

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - The slower-than-expected drop in the Chinese GDP figures reported today failed to cheer commodity prices.

    Oil prices weakened moderately at both the sides of the Atlantic. Brent and WTI lost 30 cents each, while Comex copper weakened 0.62%. Meanwhile, the previous metals pack weakened sharply on the back of profit taking after sharp rally seen in the previous week.

    China's economy expanded 6.9% on-year in the third quarter, official data showed on Monday, compared with the prediction of 6.8 percent by Reuters. However, Industrial production rose 5.7% on-year in September, missing expectations for a rise of 6.0%.

    Even the Asian equities trades mixed, while the European equity index futures are pointing to a moderately weak opening.
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