China’s NBS: Economy in Q1 shows continued momentum of stable recovery

Dhwani Mehta FXStreet

Following the release of the Q4 GDP and March activity numbers, China’s National Bureau of Statistics (NBS) released a statement, via Reuters, expressing their assessment of the economy.

Economy in Q1 shows continued momentum of stable recovery.

Foundation for economic recovery is yet to be consolidated.

Long-standing structural problems remain prominent.

International landscape has high uncertainties and instabilities.

Market reaction

AUD/USD remains under pressure below 0.7750 amid mixed Chinese data and uptick in the US Treasury yields. Focus remains on the broader market sentiment ahead of the US Michigan Consumer Sentiment data.

AUD/USD drops further towards 0.7700 on mixed China data dump

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.

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