Yes China had some encouraging numbers last night and it may well take over the world (in financial terms)..... but to get there it will be dependent on EU/US consumers.
Also, sooner or later it will have to let it currency trade openly.
On the EUR/USD, it's definitely been a risk-on week so far (helped by last nights numbers).
If it gets past 1.2820 it should reach 1.2870....
Fully agree with PT that the overall trend is bearish so any longs should have tight SLs.
trade well,
LP
patience is a virtue