Eyes on China’s data this week -TDS
FXStreet (Guatemala) – Analysts at TD Securities explained that the August data reports from China (Tue & Thu) are not likely to be pretty.
Key Quotes:
“…given poor PMIs, policy miscommunication (CNY and equity market), and the Tianjin port blast. For the trade balance, we anticipate the Tianjin explosion to weigh on the August numbers, which have shown a “soft” pattern in recent years, anticipating a reading of $46bn against consensus of $49.4bn.”
“China CPI is likely to surprise a bit on the upside on strength in pork prices, rising by 2.0% Y/Y in August. Over the past month dataflow out of China, along with country-specific news has become as much a driver of EM asset performance, as Fed rate expectations, resulting in general ‘EM FX weakness’ (rather than ‘USD strength’).”
Analysts at TD Securities explained that the August data reports from China (Tue & Thu) are not likely to be pretty.
(Market News Provided by FXstreet)