European stocks retreated, following their biggest weekly gain in a month, as China’s economy grew at a slower pace than estimated and a gauge of manufacturing in the New York area missed forecasts.

In China, gross domestic product rose 7.7 percent in the first quarter, the National Bureau of Statistics said in Beijing. That compared with the 8 percent median forecast by analysts in a survey and the 7.9 percent pace in the fourth quarter. The country’s industrial production increased in March at a slower rate than economists had estimated, while retail-sales growth matched forecasts.

In the U.S., the Federal Reserve Bank of New York’s general economic index slowed to 3.1 this month from 9.2 in March. Economists in a survey had forecast it would drop to 7. Readings greater than zero mean that activity increased.

National benchmark indexes fell in all of the 18 western- European (SXXP) markets. The U.K.’s FTSE 100 Index and France’s CAC 40 Index slid 0.6 percent, while Germany’s DAX Index lost 0.5 percent.

Randgold plunged 8.3 percent to 4,549 pence and Fresnillo Plc, the biggest primary silver producer, sank 15 percent to 1,078 pence. Silver slumped 10 percent in London trading. BHP Billiton Ltd., the world’s largest mining company, slid 3.7 percent to 1,822 pence and Rio Tinto Group, the second biggest, slipped 3.5 percent to 2,973 pence.

Publicis dropped 5.2 percent to 51.56 euros after the world’s third-biggest advertising company called 2013 a difficult year and said first-quarter sales rose 1.3 percent to 1.56 billion euros ($2 billion). The revenue growth missed consensus estimates, Goldman Sachs Group Inc. and CA Cheuvreux said in notes to investors.

Accor SA declined 4.2 percent to 25.62 euros after Credit Suisse Group AG downgraded Europe’s largest hotel operator to underperform, the equivalent of sell, from outperform, citing the increasing risk of disappointing first-quarter earnings.

West Texas Intermediate crude fell to the lowest level this year as China’s economic growth unexpectedly lost momentum, raising concern that demand from the world’s second-biggest oil-consuming country will slow.

Prices broke below $90 as China’s first-quarter gross domestic product increased 7.7 percent from a year earlier, the National Bureau of Statistics reported in Beijing. That’s less than the 8 percent forecast in a survey of economists and the 7.9 percent expansion in the fourth quarter. China’s oil use was the least in five months in March, statistics bureau data showed. Commodities tumbled, led by metals and energy.

China’s first-quarter growth was lower than all except two of the 41 analyst estimates in the survey. They ranged from 7.5 percent to 8.3 percent. Chinese GDP expanded 7.8 percent in 2012, the least since 1999.

China used 9.76 million barrels of oil in 2011, according to BP Plc (BP/)’s Statistical Review of World Energy, behind only the U.S. in terms of oil consumption.

China’s apparent oil demand in March grew 2.7 percent from a year earlier to 9.77 million barrels a day, according to statistics bureau data compiled by Bloomberg. That’s down from February’s 10.2 million and is the lowest level since October.

Slower economic growth “translates into weaker oil demand growth, but we think development there is still pretty energy intensive,” Walker said.

Oil also fell as manufacturing in the New York region expanded less than projected in April. The Federal Reserve Bank of New York’s general economic index dropped to 3.1 this month from 9.2 in March. Readings exceeding zero signal expansion in New York, northern New Jersey and southern Connecticut.

WTI for May delivery falling to $87.86, the lowest intraday level since Dec. 19. The volume of all futures traded was almost double the 100-day average.

Brent for May settlement, which expires today, fell $2.58, or 2.5 percent, to $100.53 a barrel on the London-based ICE Futures Europe exchange after dropping to $100.41 a barrel, the least since July. Volume was 34 percent above the 100-day average. The more actively traded June contract slid $2.35, or 2.3 percent, to $100.69.

In the course of trading on Monday the price of gold has fallen by nearly 10% against the statistics from China, were worse than expected, as well as investors' concerns regarding the continuation of the negative dynamics of prices for precious metals.

China's economy in the I quarter of 2013, year on year increase of only 7.7%, which was lower than the forecasts of experts. From January to March, China's GDP reached 11.885 trillion yuan. The growth was weaker than in the same period last year, while the economy grew by 7.9%. Recall that by the end of the year the government forecast a GDP growth of 7.5%.

In general, the published data were worse than forecasts of experts who still waiting for surprises. And I must say, were the prerequisites for this. The economy showed an increase in liquidity was also recorded growth in exports. Not pleased investors and other data. Thus, industrial production in March, which added 8.9% against the forecast of 10.1%. Almost in line with expectations but retail sales, which grew by 12.6%.

It is worth noting that the foreign exchange market in China today set a record. The People's Bank of China fixed the yuan to the dollar at around 6.2452 - with up to 2005, when the revaluation of the Chinese currency. The negative statistics on China added to the negative equity and commodity platforms. , Sales are almost everywhere. In China, the major indexes lost about 1%, Hong Kong's losses amount to 1.5%, while Japan's Nikkei is down 1.6%.

As was previously known, the international gold reserves in China by the end of 2012 rose to $ 3.3 trillion, surpassing thus, the cost of the gold reserves of all countries in the world by half. Celestial reserves exceeded the value of all the gold reserves of the planet in 2004. Since then, according to the International Monetary Fund (IMF) and the World Gold Council, gold prices rose by 263% to $ 1.58 million per troy ounce.

In the previous session, on Friday, the precious metals market downward trend in gold prices. After the financial crisis, the precious metals market has attracted the attention of many investors, but the pace of growth in gold prices declined on higher stock markets, low inflation and expectations that the U.S. Federal Reserve will curtail economic stimulus measures in the near future.

Previously, it was also reported that by the end of trading on Monday, April 9, the price of gold fell against the background of billionaire George Soros about the loss of the precious metal as a trusted asset. Recall Soros said that last year's drop in gold prices during the euro crisis has undermined its reputation as a bastion of reliability in the eyes of investors.

The cost of the June gold futures on COMEX today dropped to 1356.60 dollars per ounce.

EUR/USD $1.3000, $1.3005, $1.3020, $1.3100, $1.3150

USD/JPY Y97.50, Y98.50, Y98.60, Y99.00, Y99.20, Y100.00, Y100.25

USD/CHF Chf0.9300, Chf0.9350, Chf0.9495

AUD/USD $1.0325, $1.0400, $1.0490, $1.0550

GBP/USD $1.5200, $1.5340, $1.5400

EUR/GBP stg0.8500

U.S. stock futures declined after China’s economy grew at a slower pace than economists forecasts.

Global Stocks:

Nikkei  13,275.66 -209.48 -1.55%

Hang Seng 21,772.67 -316.38 -1.43%

Shanghai Composite 2,181.94 -24.84 -1.13%

FTSE  6,327.64 -56.75 -0.89%

CAC  3,705.52 -23.78 -0.64%

DAX 7,688.44 -56.33 -0.73%

Crude oil $89.39 -2.08%

Gold $1417.40 -5.59%

Data

00:30 Japan BOJ Governor Haruhiko Kuroda Speaks

01:30 Australia Home Loans February -1.5% +1.6% +2.0%

02:00 China Retail Sales y/y March +12.3% +12.5% +12.6%

02:00 China Industrial Production y/y March +9.9% +10.1% +8.9%

02:00 China GDP y/y Quarter I +7.9% +8.0% +7.7%

04:30 Japan Industrial Production (MoM) (Finally) February -0.1% -0.1% +0.6%

04:30 Japan Industrial Production (YoY) (Finally) February -11.0% -10.5%

06:15 Japan BOJ Governor Haruhiko Kuroda Speaks

09:00 Eurozone Trade Balance s.a. February 9.0 9.9 12.0

The yen rose against all major currencies after China in the first quarter of this year, there were a slowdown in economic growth in the country, which caused the demand for the currency of refuge. According to figures released today by the State Statistical Bureau of China, the growth of this index for the period was 7.7%. GDP growth in the first quarter were 0.2% lower than in the fourth quarter of 2012, which stood at 7.9%. Analysts had expected a rise of 8%.

Additional impetus to the growth of the Japanese currency was Finance Minister in United States, Japan has called on April 12 to refuse to take action to intentional devaluation of the yen. The U.S. Treasury said that in the past there has been a large-scale measures for the Bank of Japan's monetary easing aimed at combating chronic deflation. A sharp drop in the yen exchange rate causes concern due to the possibility of competitive devaluations by trading partners, in the U.S. state the department.

The euro fell after ratings agency Moody's downgraded Cyprus's largest bank, Bank of Cyprus, by two notches - from "Caa3" to default level "C". The rating actions reflect Moody's expectations with respect to large losses on uninsured depositors deposits in the Bank of Cyprus in the coming months. Also today, the Troika inspectors announced the completion of the latest revision of the program to provide assistance to Greece, reaffirming that Athens implemented measures should help the country achieve its goals. This means that the frozen tranche of E2.8 billion may be granted to Greece in the near future. In a joint statement, the EU, the IMF and the ECB says that the country's fiscal performance look satisfactory and successful movements correspond to the exposed Greece to target levels. Government is committed to realizing the full fiscal measures required for execution in 2013-2014. It was also noted that the recent measures taken by the authorities, it is assumed that in the near future, it has met its goals, paving the way for an early decision on the allocation of funds EFSF tranche. Note that the economic reforms that the Greek government pledged to implement include job cuts in the public sector, which was the main stumbling block, hinder the achievement of a final agreement on the rescue. Expects three, in 2014 Greece will gradually return to the path of economic growth.

The pound rose against the euro after a report showed that house prices in Britain rose in April, which was the fourth monthly increase, and increased optimism about the fact that the country can avoid another recession. Also contribute to the growth expectations of future currency report on inflation. According to experts, in annual terms, the value of the indicator will remain unchanged - at the level of 2.8%, while the increase on a monthly basis should be 0.3%, compared to 0.7% in February.

EUR / USD: during the European session the pair fell to $ 1.3050, and then recovered to $ 1.3081

GBP / USD: during the European session the pair fell to $ 1.5304, but then rose to $ 1.5337

USD / JPY: during the European session the pair fell to Y97.60

At 12:30 GMT the U.S. will Empire Manufacturing production index for April. At 13:00 GMT the United States will report on the volume of net purchases of long-term U.S. securities by foreign investors in February and the total volume of net purchases of U.S. securities by foreign investors in February.

EUR/USD

Offers $1.3195/200, $1.3180, $1.3170, $1.3152, $1.3135/38

Bids $1.3050, $1.3040/35, $1.3020, $1.3000

GBP/USD

Offers $1.5450/60, $1.5420/25, $1.5395/00, $1.5375/80

Bids $1.5300, $1.5280, $1.5250, $1.5220

AUD/USD

Offers $1.0550, $1.0520/25, $1.0500, $1.0445/50

Bids $1.0400, $1.0380, $1.0350, $1.0320, $1.0310/00

EUR/JPY

Offers Y129.90/00, Y129.50, Y129.00, Y128.80/85

Bids Y127.50, Y127.30/24, Y127.00, Y126.80, Y126.55/50

USD/JPY

Offers Y99.75/80, Y99.50, Y99.35/40, Y99.00, Y98.70/80

Bids Y97.55/50, Y97.20, Y97.00, Y96.80, Y96.50

EUR/GBP

Offers stg0.8650, stg0.8610/15, stg0.8600/05, stg0.8580/85, stg0.8560/65, stg0.8540/50

Bids stg0.8500, stg0.8485/80, stg0.8460/50, stg0.8410/00

European (SXXP) stocks retreated, following their biggest weekly gain in a month, as China’s economy grew at a slower pace than estimated and as investors awaited a report on manufacturing in the New York area. U.S. index futures and Asian shares also fell.

In China, gross domestic product rose 7.7 percent in the first quarter, the National Bureau of Statistics said in Beijing. That compared with the 8 percent median forecast by analysts in a Bloomberg News survey and the 7.9 percent pace in the fourth quarter. The country’s industrial production increased in March at a slower rate than economists’ had estimated, while retail-sales growth matched forecasts.

Empire Manufacturing

Manufacturing in the New York region expanded for a third month in April, a report at 8:30 a.m. local time may show. The Federal Reserve Bank of New York’s general economic index slowed to 7 this month from 9.2 in March, economists forecast in a Bloomberg News survey. Readings greater than zero mean that activity increased.

Deutsche Telekom advanced 2.2 percent to 8.97 euros. Dish Network Chairman Charlie Ergen proposed a merger with T-Mobile USA Inc. before Deutsche Telekom announced an improved bid for MetroPCS Communications Inc. on April 10, people familiar with the situation said. Germany’s largest telecommunications operator may consider Dish’s proposal, the people said.

Philipp Schindera, a spokesman for Bonn-based Deutsche Telekom, and Dish spokesman Bob Toevs declined to comment.

Centrica rose 1 percent to 383.1 pence after purchasing the gas assets in southern and central Alberta from Suncor Energy Inc. for $980 million. Centrica will own 60 percent of the fields and Qatar Petroleum 40 percent, according to a statement from the Windsor, U.K.-based company

At that moment:

FTSE 100 6,322.2 -62.19 -0.97%

CAC 40 3,700.66 -28.64 -0.77%

EUR/USD $1.3000, $1.3005, $1.3020, $1.3100, $1.3150

USD/JPY Y97.50, Y98.50, Y98.60, Y99.00, Y99.20, Y100.00, Y100.25

USD/CHF Chf0.9300, Chf0.9350, Chf0.9495

AUD/USD $1.0325, $1.0400, $1.0490, $1.0550

GBP/USD $1.5200, $1.5340, $1.5400

EUR/GBP stg0.8500

EUR/CHF Chf1.2150, Chf1.2200

Asian stocks dropped, with the regional benchmark index retreating from the highest level in 20 months, after Chinese economic growth and industrial production expanded less than economists’ estimated.

Nikkei 225 13,275.66 -209.48 -1.55%

Hang Seng 21,807 -282.05 -1.28%

S&P/ASX 200 4,967.9 -45.63 -0.91%

Shanghai Composite 2,181.94 -24.84 -1.13%

Jiangxi Copper Co., China’s largest copper producer, slid 4.7 percent in Hong Kong.

Nissan Motor Co., a Japanese carmaker that gets 32 percent of sales from North America, slid 3.9 percent, pacing declines among exporters after U.S. retail sales unexpectedly fell.

00:30 Japan BOJ Governor Haruhiko Kuroda Speaks

01:30 Australia Home Loans February -1.5% +1.6% +2.0%

02:00 China Retail Sales y/y March +12.3% +12.5% +12.6%

02:00 China Industrial Production y/y March +9.9% +10.1% +8.9%

02:00 China GDP y/y Quarter I +7.9% +8.0% +7.7%

04:30 Japan Industrial Production (MoM) (Finally) February -0.1% -0.1% +0.6%

04:30 Japan Industrial Production (YoY) (Finally) February -11.0% -10.5%

06:15 Japan BOJ Governor Haruhiko Kuroda Speaks

The yen rose against all its 16 major counterparts after Chinese growth unexpectedly slowed, fueling demand for haven assets. China’s gross domestic product rose 7.7 percent in the three months ended March 31 from a year earlier, the National Bureau of Statistics said in Beijing today. That compares with the 8 percent median forecast in a Bloomberg News survey of 41 analysts and 7.9 percent in the fourth quarter.

Japan’s currency headed for its biggest two-day advance in more than two years against the dollar after the U.S. Treasury said it would pressure the country to refrain from competitive devaluation. The U.S. Treasury said it would pressure Japan to avoid “targeting its exchange rate for competitive purposes” in its semi-annual currency report to Congress released in Washington on April 12.

Group of 20 finance ministers and central bankers meet on April 18 and April 19 in Washington ahead of weekend talks of the IMF and World Bank. At their last meeting in February, they signaled that Japan could stimulate its stagnant economy as long as policy makers refrained from publicly advocating a sliding yen.

The New Zealand and Australian dollars dropped by the most in almost two months against the U.S. currency after the data signaled the economic recovery in their biggest trading partner has lost momentum.

The euro fell for the first time in three days after Moody’s Investors Service said Cyprus’s risk of an exit from the currency block remains high.

EUR / USD: during the Asian session the pair fell to $ 1.3065.

GBP / USD: during the Asian session the pair fell to $ 1.5305.

USD / JPY: during the Asian session the pair fell Y97.55.

00:30 Japan BOJ Governor Haruhiko Kuroda Speaks

01:30 Australia Home Loans February -1.5% +1.6% +2.0%

02:00 China Retail Sales y/y March +12.3% +12.5% +12.6%

02:00 China Industrial Production y/y March +9.9% +10.1% +8.9%

02:00 China GDP y/y Quarter I +7.9% +8.0% +2.0%

04:30 Japan Industrial Production (MoM) (Finally) February -0.1% -0.1%

04:30 Japan Industrial Production (YoY) (Finally) February -11.0%

06:15 Japan BOJ Governor Haruhiko Kuroda Speaks

09:00 Eurozone Trade Balance s.a. February 9.0 9.9

12:30 U.S. NY Fed Empire State manufacturing index April 9.24 7.2

13:00 U.S. Net Long-term TIC Flows February 25.7 41.3

13:00 U.S. Total Net TIC Flows February 110.9