Back
15 Apr 2015
CNY stronger, soft data spurs rumours of further stimulus – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, notes that the slowing Chinese growth has spurred in expectations for further easing measures by the PBoC.
Key Quotes
“CNY is strong, but trading within its recent range. China’s Q1 GDP came in as expected at 7.0%y/y, the lowest level in six years. The March data was generally disappointing, including today’s retail sales and industrial production, growing at 10.2%y/y and 5.6%y/y, respectively. The data has been enough to increase concerns over China’s growth outlook and spur some early rumours of stimulus.”
Key Quotes
“CNY is strong, but trading within its recent range. China’s Q1 GDP came in as expected at 7.0%y/y, the lowest level in six years. The March data was generally disappointing, including today’s retail sales and industrial production, growing at 10.2%y/y and 5.6%y/y, respectively. The data has been enough to increase concerns over China’s growth outlook and spur some early rumours of stimulus.”