Negative US reports May Negatively Affect Foreign Exchange Rates

In an interview with CNBC, Boris Schlossberg, Director of Currency with GFT Forex, said that the markets need to be concerned about US economic data, which is expected to come out later this week. He was answering a question whether the slowdown in the Chinese economic growth rate is a cause of concern.

He said the market has already factored in the negative news on the job data. Any mild positive surprise may prove to be positive for the markets.

He also stressed that if the US economy produces negative numbers this week, it may spell trouble for the foreign exchange markets.