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16.04.2021 20:18

European session review: EUR appreciates on improved outlook for global economy

TimeCountryEventPeriodPrevious valueForecastActual
06:30SwitzerlandProducer & Import Prices, y/yMarch-1.1% -0.2%
09:00United KingdomMPC Member Cunliffe Speaks    
09:00EurozoneHarmonized CPI ex EFAT, Y/YMarch1.1%0.9%0.9%
09:00EurozoneHarmonized CPIMarch0.2%0.9%0.9%
09:00EurozoneHarmonized CPI, Y/YMarch0.9%1.3%1.3%
09:00EurozoneTrade balance unadjustedFebruary11 17.7
12:15CanadaHousing StartsMarch245.9250 

EUR rose against most of its major rivals in the European session on Friday as risk appetite increased as strong U.S. and Chinese economic data bolstered expectations of a fast global recovery.

The National Bureau of Statistics (NBS) reported that China's GDP expanded 18.3% y/y in the first quarter of 2021, accelerating sharply from a 6.5% y/y growth in the fourth quarter of 2020. This was the strongest pace of expansion since the series began in 1992, but was shy of economists' estimates, suggesting a 19.0% y/y climb. 

The Chinese impressive Q1 data followed the stronger-than-expected retail sales and jobs figures from the U.S., boosting expectations for a sharp global economic recovery.

Market participants also received final March inflation data, which was in line with the initial estimate and economists' forecast of 1.3%, and well below the European Central Bank's (ECB) "just below 2%"-target.


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Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
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Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
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Sydney 21:00 06:00 00:00 09:00 00:00 09:00
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Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
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Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
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European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
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London 07:00 16:00 10:00 19:00 10:00 19:00
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American New York 12:00 21:00 15:00 00:00 15:00 00:00
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Chicago 13:00 22:00 16:00 01:00 16:00 01:00