NBS: China's economic operation generally stable in July

Dhwani Mehta FXStreet

Following the publication of the high-impact China’s growth and activity data for May, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Thursday.

Key quotes (via Reuters)

China's economic operation is generally stable in July.

Rising negative impact from changes to China's external environment.

Economic recovery trend needs to be consolidated.

Expect recovery in consumption to consolidate as policies gain traction.

Falls in producer price index likely to narrow in coming months.

Expect consumer prices to remain relatively stable in future.

Domestic demand likely to improve due to policy support.

China's economic development faces more favourable conditions despite challenges and risks.

China's foreign trade remains resilient despite rising protectionism.

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.

EUR/USD remains weak near 1.1800

EUR/USD rapidly fades Tuesday’s uptick and resumes its weekly retracement, challenging the 1.1800 support at the end of the NA session on Wednesday. The pair’s drop comes in response to extra gains in the US Dollar. Moving forward, the ECB meets on Thursday and is seen leaving its policy rate unchanged.

GBP/USD flirts with daily lows near 1.3640

GBP/USD is giving back Tuesday’s gains on Wednesday, facing renewed selling pressure and drifting towards the 1.3640 zone, or daily lows. The pullback comes as the Greenback picks up some decent traction, while investors position ahead of the BoE’s Super Thursday.

Gold stays offered below $5,000

Gold is back under pressure on Wednesday, slipping below the $5,000 mark per troy ounce as Wednesday’s session draws to a close. The pullback comes amid renewed strength in the US Dollar alongside mixed moves in US Treasury yields across the curve.

Dogecoin Price Forecast: DOGE plummets as retail investors exit amid broad market sell-off

Dogecoin (DOGE) holds near support at $0.1000 at the time of writing on Wednesday, as bears tighten their grip on assets across the crypto market. The leading meme coin remains on the back foot, weighed down by risk-off sentiment, low retail activity and weak technicals.

Should investors abandon AI as software stocks slide?

AI is not being abandoned by markets. It is being priced more carefully. Over the past few weeks, the underperformance of software and SaaS stocks has sparked a familiar question: is the AI trade breaking down? The answer is no.

Ripple stabilizes amid mixed signals as ETF inflows resume despite low retail activity

Ripple hovers around the $1.60 pivotal level at the time of writing on Wednesday, reflecting stable but weak sentiment across the crypto market. Intense volatility triggered a brief sell-off on Tuesday, driving the remittance token to pick up liquidity at $1.53 before recovering to the current level.