Source: National Bureau of Statistics of China China’s Q1 GDP rose faster than anticipated despite the impact of Covid-19 lockdowns in some cities in March. CSI 300 Index down -0.53%, CNY USD up +0.09% First-quarter GDP jumped by 4.8%, surpassing expectations of 4.4%, rising from a prior year.Fixed asset investment for Q1 jumped by 9.3% from a year ago, surpassing … [Read more...] about China’s First-Quarter GDP Beats Forecast, Growing 4.8% Year-on-Year
Forex News
US Industrial Production Rises by 0.9%, the Third Straight Month of Increases
Source: Federal Reserve Industrial production in the US increased by 0.9% in March, the third straight month of advances, but slower than 1.2% in February. SPY is down -1.25%, DXY is up +0.18%. Following the February gains, the industrial output maintained an 8.1% elevation in the first quarter compared to the prior year. The index was 5.5% above the prior-year level.The … [Read more...] about US Industrial Production Rises by 0.9%, the Third Straight Month of Increases
New York Manufacturing Picks up After Three Months of Sluggishness
Source: New York Fed Business activity in New York surged in April to return to positive levels, following three straight months of sluggishness. NYF is down 0.26%, while QQQ is down 0.15% premarket. The general business conditions index stood at 24.6 points, up by 36.4 points from the -11.8 points in March.Some 40% of survey respondents said conditions have improved … [Read more...] about New York Manufacturing Picks up After Three Months of Sluggishness
PBOC Cuts Bank’s Reserve Requirements as Growth Stalls
Source: Bloomberg China’s central bank has reduced its reserve requirements for most of its lenders by 25 basis points and 50% for smaller banks to cushion the slowing economy. CSI 300 is down -0.67%, USDCNY is down -0.10%. The change is expected to become effective on April 25, generating around 530 billion yuan or $83 billion of liquidity to the economy.Officials … [Read more...] about PBOC Cuts Bank’s Reserve Requirements as Growth Stalls
US Consumer Sentiment Improves by 10.6% In April as Optimism Crawls Back
Source: University of Michigan The Index of Consumer Sentiment in the US was reported at 65.7 in early April, improving by 10.6% from the previous month. SPY is down -0.63%, DXY is up +0.50%. The consumer sentiment gauge was still 25.6% lower than the prior year and remained below the reading in January this year. Consumers also became more upbeat about the current … [Read more...] about US Consumer Sentiment Improves by 10.6% In April as Optimism Crawls Back