China's latest money supply data now out
- CNY 2.5trln prev
- end-Feb M2 yy +13.3% vs 13.7% exp vs 14.0% prev
- end-Feb M1 yy +17.4% vs +18.6% prev
- end-Feb outstanding CNY loans +14.7% vs +15.3% prev
- end-Feb outstanding CNY deposits +13.3% vs +12.5% prev
Sharp fall in lending will add to the PBOC must ease even more campaign.
Yesterday I reported talk of the proposed debt for equity plan soon to be announced.
AUDUSD just turning lower to 0.7498 from 0.7512 perhaps more concerned than pleased about those Chinese lending figures but having found good supply above 0.7500 on a few attempts now. Dip demand into 0.7480 and 0.7460 though.
