China: Economic data point towards stabilizing economy – BBH

By FXStreet Research Team at BBH, suggests that the China’s slew of economic data lends credence to ideas that the world’s second-largest economy may be stabilizing.

Key Quotes

“However, the data failed to have a wider impact on the global capital markets, including supporting Chinese equities.

However, in the foreign exchange market, the Chinese data appeared to help lift the dollar-bloc currencies, and the currencies of some of China’s largest Asian trading partners, like the Korean won (+0.9% and the Taiwanese dollar (+0.25%). More broadly, the greenback is consolidating this week’s gains against the euro, Swiss franc, and the yen. Sterling is a little firmer (0.2%), which is essentially this week’s advance.

In an otherwise light news session, Chinese economic data are the highlight. Although growth slipped to 6.7%, the slowest in seven years, it is in the middle of this year’s 6.5-7.0% target, and the other reports were better than expected. This includes a 6.8% rise in March industrial output, nearly one percentage point higher than the Bloomberg median. Retail sales rose 10.5%, also a little better than expected. Fixed asset investment rose 10.7% compared with a median forecast of 10.4%.”
For more information, …read more

Source:: FX Street