Commenting in the wake of the GDP figures out of China, National Bureau of Statistics spokeman Sheng Laiyun says:
- China’s first half economic growth is stable
- including stable growth rates
- stable inflation
- and stable employment
–
OK, then.
–
Meanwhile the AUD has dropped about 30 points from its immediate post-GDP high and is encountering some buyers around 0.9340 now. Let’s see how long they can hold it. it does look heavy.
Nothing, though, to save the NZD … its just above 0.8700 as I type and also looking heavy. There is buying interest just below the figure, but mingled with stops.
–
Added – Sheng has just added that China’s economy faces downward pressure still.
–
I really wish he’d say something about the horse bolting from the stable. He likes stable, after all.
