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Expert's opinion from FXFinPro
The growth of China's GDP in the 1st quarter totaled 6.7%
Today, was published important statistics on the growth of China's GDP that in the 1st quarter increased by 6.7% compared to the same period of 2015. It is worth remembering that this figure was 0.1% worse than the previous quarter, but coincided with the average forecast of analysts. It is worth noting that this growth rate was the lowest since the first quarter of 2009. Since November 2014, the People's Bank of China lowered the benchmark interest rate 6 times, in order to maintain economic growth. Industrial production growth accelerated in February to 6.8% for the year against 5.4% in January. Positive data from China reduces the tension on the market and as a result leads to a decrease in demand for defensive assets. Despite the possible increase in the price of gold and yen in the near future against the backdrop of falling oil prices, a strong statistics from China will be priced in the next few weeks.
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Friday, 15 Apr, 2016 / 1:12
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