USD/CNH aims to surpass 6.9650 on downbeat Chinese Retail Sales data – by Sagar_Dua24 USDCNY PBOC RetailSales Fed DollarIndex
The annual Retail Sales data has reported a contraction of 5.9% while the street was expecting a contraction of 3.6%. As retail demand has weakened further, it is going to impact negatively the Chinese Consumer ahead. A severe contraction in retail demand is going to compel the People’s Bank of China to look for policy easing to support economic prospects and push inflation higher.
Apart from the Retail Sales data, annual Chinese Industrial Production has dropped to 2.2% vs. the consensus of 3.6% and the prior release of 5.0%. This seems to be the consequence of prolonged Covid-19 lockdown restrictions by the administration to contain the spread. As the Chinese government has rolled back various curbs after the protest from the general public, economic prospects will get track of progress.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Five Chinese nationals were wounded in Kabul hotel attack - Chinese foreign ministryFive Chinese nationals were wounded in an attack on a hotel in central Kabul on Monday, Chinese foreign ministry spokesperson Wang Wenbin said on Tuesday.
Read more »
The big bet: Can retail pharmacy chains remake themselves into healthcare providers?Walgreens is making a splash in primary care. John Driscoll, head of the company’s healthcare business, tells MarketWatch what to expect in 2023.
Read more »
The Retail Pain in the Fed’s Plan to Save the EconomyThe Federal Reserve’s war on inflation is going to clamp down on consumer spending, eventually.
Read more »
New plans for The Point: a central park, promenade, housing and riverfront retailPlans for the first 66-acre phase at the heart of what’s being called The Point bring the most detail yet to one of the largest public projects in state history.
Read more »
Dramatic changes coming to office, retail and open space around Penn StationFOX 5 News got an exclusive first look at the reimagined Penn Plaza, which developer Vornado Realty Trust is calling The PENN District.
Read more »
Goodwill opens another retail store, donation center in East ArlingtonA new, 1,600-square-foot Goodwill retail and donation center opened on Kernan Boulevard at the end of November.
Read more »