This morning’s publication from China regarding its retail sales and industrial production revealed an expanding economy. Both figures relate to separate realms of economic activity, but both witnessed an increase of similar size this month.
Industrial production in China was expected to rise approximately 13.5%, year-on-year. The actual results showed a 13.8% increase instead. Retail sales, likewise, showed a year-on-year rise to 17.7%, beating expectations for a 17.1% increase. Both figures should help the CNY hold ground today.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
