China's Economy Growing Steadily

Fundamentals

Today the markets are closed for the Easter holiday, so, like on Friday, there's not much news expected in the market. In terms of fundamentals, there's only macroeconomic data in China, where the Q1 GDP and the change in industrial output are being released.

The Chinese economy is steadily growing. Unemployment fell from 4.05 to 4.02 percent over the last year, while the country’s GDP keeps increasing in arithmetic progression. For example, in 2014, China's GDP was $10,482.37B, while in 2015 it rose to $11,008B.
There's no wonder that some monetary officials in various countries are voicing concerns about China’s growth prospects.
Apart from China’s macroeconomic indicators, the NY Empire State Index, which measures the industrial sector’s economic health, is released in the United States.

Stocks

A number of US companies are releasing their earnings reports today. In particular, Dish Network LLC, traded on the NASDAQ, releases its report Monday. The TV provider's expected EPS is $0.70.
J.B. Hunt Transport Services, Inc., a freight hauling giant, is also going to report its earnings, with the EPS expected to fall to $0.85.
New York's M&T Bank is likewise releasing its report Monday. The EPS is expected to drop slightly, from the previous $1.98 to $1.93.
Meanwhile, Facebook stock is replicating Apple’s movement. Currently, the 9-day MA is being broken through, with the intersection of the MA and the middle Bollinger band as confirmation. On the basis of Fibo levels, the support is fairly deep, at around $136.15.

Currency Market

The AUD/CAD pair keeps rising. The Aussie might encounter resistance at 1.0150, where the Bollinger bands' 20-day MA is located. On the daily charts, a bullish engulfing candle pattern is forming, which means that the bulls may continue attacking.
As for the NZD/CHF pair, the resistance is at 0.7050, the price having touched this level as many as 5 times. The support is 100 pips lower, at 0.6950. Given that the price is close to the resistance, traders are likely to sell, expecting the price to correct, while setting short stop losses. It should be noted the EMA has been broken through on the weekly charts, which clearly signals a mid-term bearish outlook.

Nikolay Dudchenko, Olymp Trade Analyst

Olymp Trade Review