Asian markets are steady as a batch of economic data from China affirmed the view that economy there is stabilizing. Q1 GDP growth slowed to 6.7% yoy, down from prior quarter's 6.8% yoy, meeting consensus. March data saw industrial production rose 6.8% yoy versus expectation of 6.0% yoy. Retail sales rose 10.7% yoy versus expectation of 10.3% yoy. Fixed asset investments rose 10.5% yoy versus expectation of 10.4% yoy. Nikkei is trading mildly lower by -0.3% at the timing of writing after staging a strong rally this week. Overnight, DJIA closed mildly up by 0.1% and maintained this week's gain. Elsewhere, Gold dips back to 1240 level while WTI crude oil is hovering around 41.
In the currency markets, commodity currencies are set to end the week broadly higher with Aussie being the strongest. Markets continued to pare back expectations for RBA to cut interest rate this year. Sterling is the next strongest after BoE left policies unchanged yesterday but remains vulnerable to Brexit related selloffs. Meanwhile, Yen and Swiss Franc are the weakest ones on risk appetite. Dollar and Euro are mixed.
Looking ahead, Eurozone trade balance will be the main feature in European session. US will release Empire State manufacturing index, industrial production and U of Michigan consumer sentiment. Canada will release manufacturing shipments.