Week Ahead – Highlights include: US PCE & GDP, BoC, Flash PMIs, Aus & NZ CPI
MON: BoJ Minutes (Dec); Australian Flash PMIs (Jan). TUE: Australian NAB Business Confidence (Dec), German GfK (Feb), EZ, UK & US Flash PMIs (Jan), New Zealand CPI (Q4), UK CBI Trends (Jan). WED: BoC Policy Announcement; Australian CPI (Dec/Q4), German Ifo (Jan). THU: CBRT Minutes & Inflation Report (Jan), US Durable Goods (Dec), GDP Advance […]
Gold gains on softer dollar, slower Fed rate-hike bets
U.S. weekly jobless claims data due at 1330 GMTGold benefiting from flight to safety after U.S. data – analystU.S. producer prices fall more than expected in DecemberJan 19 (Reuters) – Gold prices rose on Thursday and are set to snap a three-day losing streak, helped by a weaker dollar and as signs of cooling U.S. […]
Gold back up above $1,900 level as dollar loses ground
Jan 18 (Reuters) – Gold reversed course to trade higher on Wednesday as the U.S. dollar pulled back from session highs and expectations of a slower pace of Federal Reserve rate hikes supported prices above the $1,900 threshold.Having dipped in the last two sessions, spot gold rose 0.5% to $1,917.26 per ounce by 1254 GMT, […]
Economic development situation in 2023 is still complicated
China’s National Development and Reform Commission of the People’s Republic of China (NDRC), the country’s ‘state planner’ said in a statement on Wednesday, “the economic development situation in 2023 is still complicated.” Additional quotes “The external environment is turbulent.” “Pressure on China’s economy is still large.” “Confident and capable of promoting the continuous recovery and […]
China’s 2022 economic growth one of the worst on record, post-pandemic policy faces test
China Q4 GDP growth slows; 2022 growth one of worst on record2022 GDP grows 3.0%, far below official targetDec factory output, retail sales weak but beat expectationsPopulation shrinks for the first time since 1961Policymakers vow to step up support for economy in 2023BEIJING, Jan 17 (Reuters) – China’s economic growth in 2022 slumped to one […]
IMF says fragmentation could cost global economy up to 7% of GDP
WASHINGTON, Jan 15 (Reuters) – A severe fragmentation of the global economy after decades of increasing economic integration could reduce global economic output by up to 7%, but the losses could reach 8-12% in some countries, if technology is also decoupled, the International Monetary Fund said in a new staff report.Tne IMF said even limited […]
China’s GDP growth rate well shy of the official target in 2022
On Tuesday morning, the Shanghai Composite Index and Hong Kong’s Hang Seng fell as data published by the Chinese National Bureau of Statistics showed that the country’s Gross Domestic Product (GDP) grew by 3% in 2022, recording one of the slowest growth rates in the last decades. Commenting on China’s GDP growth, Goldman Sachs analysts […]
Chinese yuan sinks on mixed GDP, Asia FX rattled by recession fears By Investing.com
© Reuters. By Ambar Warrick Investing.com — Most Asian currencies fell on Tuesday amid renewed fears of a global recession this year, with the yuan among the worst performers as data showed Chinese economic growth was pummeled by COVID lockdowns in 2022. The fell 0.4% to 6.7611, coming off a near five-month high after data […]
Australian Dollar Bumped on Strong China GDP Data. Where to for AUD/USD?
Australian Dollar, AUD/USD, China GDP, Iron Ore, US Dollar, Fed – Talking Points The Australian Dollar firmed again after solid China GDP figures China’s re-opening is yet to hit the growth numbers but has helped commodities The US Dollar appears vulnerable. Will it boost AUD/USD to a new peak? Recommended by Daniel McCarthy Get Your […]
China says its 2022 GDP growth was 3% – analyst response is: Nope, much lower
Chinese official economic data is often questioned. Usually quite rightly. This already from noted China analysts at CBB: Earlier: — Regardless of who you want to believe (I’d be with CBB over the NBS) China has abandoned its zero COVID policy and as its wave of resultant infections subsides the economy will respond to the […]