{"id":148003,"date":"2019-05-20T07:08:18","date_gmt":"2019-05-20T11:08:18","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=148003"},"modified":"2019-05-20T06:19:11","modified_gmt":"2019-05-20T10:19:11","slug":"japans-q1-gdp-rises-0-5","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/05\/japans-q1-gdp-rises-0-5\/","title":{"rendered":"Japan\u2019s Q1 GDP Rises 0.5%"},"content":{"rendered":"
May 20, 2019<\/div>
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By <\/strong>Orbex<\/strong><\/a><\/p>\n

Beating estimates, Japan\u2019s first-quarter GDP grew at a pace of 0.5%. On a year over year basis, Japan\u2019s GDP advanced 2.1% during the January through March period, supported by government spending.<\/p>\n

Capex fell 1.2% on the year while private consumption was down 0.3% marking the impact of the US and China trade wars. The Beijing administration showed little interest in resuming talks with the US, deeming the US behavior\u00a0bullying.<\/em><\/p>\n

Eurozone Core Inflation Rises 1.3%<\/strong><\/h2>\n

The final inflation figures for the eurozone showed that headline consumer prices grew at a pace of 1.7% while core inflation was up 1.3%, beating estimates. The gains in consumer prices came due to higher airfare and transportation costs. The euro was muted as among other things, Italy\u2019s prime minister brushed aside concerns of breaking the fiscal rules.<\/p>\n

EURUSD Likely to Fall Further<\/strong><\/h3>\n

The common currency could possibly continue to extend the declines as price tests the 1.1140 support. There is scope for price to correct from this support in the near term. The upside could see the euro testing the minor resistance level at 1.1182. A successful break above this level could see the euro extending the correction to test 1.1250 resistance.<\/p>\n

\"eurusd\"<\/a><\/p>\n

UK Political Uncertainty Continues<\/strong><\/h2>\n

Lawmakers in the UK called for Theresa May to resign by June 30th<\/sup>\u00a0as she prepares to\u00a0deal with a fourth vote<\/a>\u00a0later in the month. But the opposition Labor party has vowed to block the deal as the ruling Tory party prepares for potential candidates vying for the seat at 10 Downing.<\/p>

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Can the GBPUSD Continue the Declines?<\/strong><\/h3>\n

The GBPUSD fell to a 4-month low on Friday. The steep declines saw prices testing the lower support at 1.2716. The Stochastics oscillator indicates oversold levels currently. While it is too early to tell, watch for a higher low to form near the current levels. To the upside, the initial target is seen at 1.2895 followed by 1.2975.<\/p>\n

\"gbpusd\"<\/a><\/p>\n

Gold Weakens as USD Gains on Consumer Sentiment<\/strong><\/h2>\n

Gold prices\u00a0extended declines into Friday\u2019s close<\/a>. Economic data from the US saw the preliminary consumer sentiment rising to 102.4. The CB\u2019s leading index gained 0.2% on the month matching estimates, while inflation expectations grew 2.8%, up from 2.5% previously.<\/p>\n

XAUUSD Could Consolidate, Trading Flat in the Short Term<\/strong><\/h3>\n

The precious metal closed at 1277.67 on Friday. Price was supported once again by the 200-day moving average. Now comes the question of whether price can bounce to the upside. In the near term, a retracement back to the 1285 handle could potentially mark a retest of this level as resistance. A reversal from the 1285 level could indicate a possible move lower in the near term.<\/p>\n

\"xauusd\"<\/a><\/p>\n

By <\/strong>Orbex<\/strong><\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By Orbex Beating estimates, Japan\u2019s first-quarter GDP grew at a pace of 0.5%. On a year over year basis, Japan\u2019s GDP advanced 2.1% during the January through March period, supported by government spending. Capex fell 1.2% on the year while private consumption was down 0.3% marking the impact of the US and China trade wars. […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-148003","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/148003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=148003"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/148003\/revisions"}],"predecessor-version":[{"id":148020,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/148003\/revisions\/148020"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=148003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=148003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=148003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}