{"id":164795,"date":"2020-02-11T09:58:45","date_gmt":"2020-02-11T14:58:45","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=164795"},"modified":"2020-02-11T09:42:47","modified_gmt":"2020-02-11T14:42:47","slug":"china-inflation-rises-on-coronavirus","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/02\/china-inflation-rises-on-coronavirus\/","title":{"rendered":"China Inflation Rises On Coronavirus"},"content":{"rendered":"
February 11, 2020<\/div>
\r\n<\/div><\/div>

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

The latest inflation report from China showed a strong gain in consumer prices. The gains were driven by demand on account of the coronavirus as well as the Chinese lunar new year.<\/p>\n

China\u2019s inflation rose 5.4% on the year in January 2020. This was the highest level in CPI, in over eight years, since October 2011.<\/p>\n

Sentix Investor Confidence Slips in February<\/strong><\/h2>\n

The eurozone\u2019s investor confidence, as measured by Sentix, fell slightly from 7.6 to 5.2 in February. The declines came as investors fear the ramifications of\u00a0the coronavirus outbreak.<\/a><\/p>\n

Although the reported cases in Europe have been low, investors are weighing the larger impact in terms of trade with China. In a separate report, Italy\u2019s industrial production was down 2.7% following a 0.1% increase previously.<\/p>\n

No Respite for the EURUSD<\/strong><\/h3>\n

The common currency continues its bearish trend with no signs of a respite. The EURUSD is posting fresh 2020 lows as it fails to beat a stronger dollar.<\/p>

\r\n
\r\n

Free Reports:<\/p><\/div>\r\n

\r\n

<\/a>\r\n\t Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p>

\r\n
\r\n
\r\n

<\/a>\r\n\t Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p>

\r\n<\/div>\r\n

\r\n
<\/div>\n

With the current trend, the common currency is on track to test the lower support at 1.0897. This marks a retest of the early October 2019 lows.<\/p>\n

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

USD Strengthens Ahead of Powell Speech<\/strong><\/h2>\n

The US dollar continues to maintain its grip strengthened by Friday\u2019s payrolls report. Amid a quiet trading day, investors look to big events this week which include the Fed Chair\u2019s testimony to Congress.<\/p>\n

GBPUSD Attempts to Retrace Losses<\/strong><\/h3>\n

Cable is posting a retracement following the declines from last week. However, price action looks bearish below the support\/resistance level of 1.2960.<\/p>\n

With the Stochastics slightly moving up from the oversold levels, a renewed selling pressure could push the GBP lower. The main downside target is at 1.2582.<\/p>\n

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

Gold Prices Stall Following 3 Days of Gains<\/strong><\/h2>\n

The precious metal was trading flat on Monday after posting three days of gains from the week before.<\/p>\n

Gold traders are likely to stay on the sidelines, waiting for more fundamental cues. Later in the week, US inflation and retail sales numbers are due.<\/p>\n

XAUUSD Holds Steady at Resistance<\/strong><\/h3>\n

The precious metal made strong gains and held on to them on Monday. Price action is trading near the resistance level of the 1573 \u2013 1569 region. This keeps the bias mixed.<\/p>\n

An upside momentum could see gold retesting recent pivot highs of 1590. To the downside, a correction could push XAUUSD to the early February lows of 1548.50.<\/p>\n

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

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

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

By Orbex The latest inflation report from China showed a strong gain in consumer prices. The gains were driven by demand on account of the coronavirus as well as the Chinese lunar new year. China\u2019s inflation rose 5.4% on the year in January 2020. This was the highest level in CPI, in over eight years, […]<\/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-164795","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/164795","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=164795"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/164795\/revisions"}],"predecessor-version":[{"id":164801,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/164795\/revisions\/164801"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=164795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=164795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=164795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}