Chinese data dump: Monthly activity weaker and GDP YoY beats
|China’s monthly activity data has been released in the form of fourth-quarter Gross Domestic Product, December Industrial Production, Fixed Asset Investment and Retail Sales.
- China Q4 GDP 6.5% YoY (vs. expected 6.2%).
- China activity data (December 2020): Industrial Production 7.3% YoY (expected 6.9%).
- China 2020 retail sales -3.9% YoY.
AUD is unchanged on the data around 0.7700.
Description of the Gross Domestic Product (GDP)
The Gross Domestic Product (GDP) released by the National Bureau of Statistics of China studies the gross value of all goods and services produced by China.
The indicator presents the pace at which the Chinese economy is growing or decreasing.
As the Chinese economy has an influence on the global economy, this economic event would have an impact on the Forex market. Generally speaking, a high reading is seen as positive (or bullish) for the CNY, while a low reading is seen as negative ( or Bearish).
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