ANZ analysts have decided to revise their GDP forecast for Chinese economy to 6.2% for 2019 (-0.2ppt) and 6.0% for 2020 (-0.1ppt) as the economic data coming out of country over the past two months have not lived up to their expectations.

Key Quotes

“The slowdown in the real estate sector is concerning. We really need to keep an eye on its negative impact on growth. Property investment slightly moderated to 11.2% ytd, from 11.9% in April with funding growth slowing to 7.6% from 8.9% last month.”

“Besides our ongoing call for a further 100bp cut in the reserve requirement ratio in the rest of the year, expectations of a US Fed rate cut will also allow the PBoC room to adjust the money market rate. We expect the PBoC to cut the 7-day reverse repo rate by 5bps in Q3 2019.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD bouncing modestly on disappointing US Consumer Confidence

The shared currency remains pressured by the idea that the ECB will come out with massive stimulus measures in September. US Michigan Consumer Confidence down to 92.1 brakes dollar's gains.


GBP/USD retreats sharply after approaching 1.2200

The GBP/USD pair came under selling pressure after flirting with weekly highs, as a dismal US confidence report brought back risk-off. GBP/USD still up for the week and above the critical 1.2100 level.


USD/JPY: Greenback makes modest progress against Yen, near 106.30

The demand for Yen as a safe-haven currency has been weak in the last three days. The levels to beat for bulls are at the 106.30 and 106.55 resistances.


Gold gives back territory towards a 23.6% retracement

Gold prices were a touch lower by the end of the week, falling -0.68% having travelled between a high of $1,528.00 to a low of $1,503.87, ending the NY session around $1,513. 

Gold News

Four Signs of A Bear Market

I am a believer that the Universe gives you signs. That may sound a bit crazy, but these three charts are three more signs of a bear market. The top chart is the GLD exchange traded fund.

Read more