China’s NBS: Economic recovery still faces many difficulties and challenges
Following the publication of the high-impact China’s activity data for May, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Monday.
Key quotes (via Reuters)
China's economic operations generally steady, some main indicators showed recovery in May.
Summer grains output is expected to see another bumper harvest.
Expect declines in PPI to narrow further.
Expect CPI to show mild rebound.
Property market shows positive changes, but still in the middle of adjustments.
China's economy likely to continue to recover despite complex external environment.
Policy measures to support the economy are gaining traction.
Employment situation has improved, but still faces many challenges and difficulties.
There is ample scope for expanding effective investment.
Expect consumption to show further recovery on policy support.
Market reaction
AUD/USD is battling 0.6600, down 0.16% on the day, at the press time.
Australian Dollar PRICE Today
The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the weakest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.04% | 0.03% | 0.08% | -0.03% | 0.18% | 0.07% | 0.02% | |
| EUR | -0.04% | 0.02% | 0.07% | -0.06% | 0.06% | 0.08% | -0.02% | |
| GBP | -0.03% | -0.02% | 0.12% | -0.07% | 0.02% | 0.02% | -0.01% | |
| JPY | -0.08% | -0.07% | -0.12% | 0.00% | 0.11% | 0.13% | 0.00% | |
| CAD | 0.03% | 0.06% | 0.07% | -0.01% | 0.15% | 0.09% | 0.06% | |
| AUD | -0.18% | -0.06% | -0.02% | -0.11% | -0.15% | 0.07% | -0.03% | |
| NZD | -0.07% | -0.08% | -0.02% | -0.13% | -0.09% | -0.07% | -0.03% | |
| CHF | -0.02% | 0.02% | 0.00% | -0.00% | -0.06% | 0.03% | 0.03% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
