Coming up at 0200GMT … China Q2 GDP.
The headline is the q/q change …
- expected is +7.4%
- prior was +7.4%
(More here, including industrial production, retail sales, and more)
I also posted this bit a little earlier: China GDP for Q2 is due today – credit growth and more stimulus augur well
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With the better tone of news coming from China in the past days and weeks I find it hard to believe GDP is going to miss today … but maybe it comes in a decimal point or two lower than expected, just to keep us all honest. Chinese data can be a little … well, something … I dunno …
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If it’s a decent size miss the AUD should remain under pressure, though I don’t see a collapse. If it’s a bigger miss, watch out below (I don’t think it’ll be a big miss).
A better than expected result will probably be shrugged off with a ‘they would say that, wouldn’t they?” response … but it should be enough to give some support to AUD I would think.
Orderboard is here for the short-term levels to watch.
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ps.Ii don’t think there is much that can save the Kiwi from further falls today.
