May 16, 2022 - 12:02 PM 240 views
According to Reuters, the China
Statistics Bureau Spokesman predicts, "There is a hope to boost economic
operations by May." He also added, "China has the potential to
sustain stable consumer inflation."
The National Bureau of Statistics
(NBS) has made the above comments only after watching the downbeat retail sales
and industrial production data for April, which have raised concerns over the
financial health of the world’s second largest economy—China.
In COVID-hit areas, China is
gradually pushing towards a production restart.
We anticipate a quick rebound in
The slow movement of the global
economy put some pressure on China’s exports.
We are anticipating China’s economy
to recover quickly.
Forecasts that China's economy will
remain relatively stable in the second quarter.
The Market Implications
The news fails to influence the
recent risk-off sentiment, keeping the AUD/USD price heavy near the intraday
low of 0.6900 points.