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15 Apr 2013
Forex Flash: China GDP eyed - Wesptpac
FXstreet.com (Barcelona) - According to Westpac: "The headline China GDP is usually quite close to consensus, which is 8.0% y/y, from 7.9% in Q4, with Westpac’s formal forecast of 8.5% y/y the highest in the market (Bloomberg range 7.5-8.3%), derived from a 2.1% q/q estimate, which is about steady with the Q4 pace."
Westpac adds: "However, given the impact of “smoothing” to maintain relative stability in the headline GDP, a number nearer 8.25% might be more realistic. This would still be enough to produce a knee jerk bounce in AUD, NZD and Asian currencies. Released along with GDP are March partial data: IP, fixed asset investment and retail sales."
Westpac adds: "However, given the impact of “smoothing” to maintain relative stability in the headline GDP, a number nearer 8.25% might be more realistic. This would still be enough to produce a knee jerk bounce in AUD, NZD and Asian currencies. Released along with GDP are March partial data: IP, fixed asset investment and retail sales."