China in focus to close out the Asia-Pacific week
Two highlights on the economic calendar in the upcoming session come from China. They're second-tier statistics but with rumours of another rate cut before the end of the month, everything is heightened.
Up first, at 0130 GMT, November property price data is due.
Reuters does its own calculation from the regional numbers and estimated new home prices were up 0.1% y/y.
Here was the data slate in October:
- October new home prices rise m/m in 27 cities (39 in September)
- October new home prices rise y/y in 16 cities (12 in September)
More:
- Beijing October existing home prices rise 18.4% y/y
- Shanghai October existing home prices rise 0.8% m/m
- Shanghai October existing home prices rise 9.7% y/y
- Beijing October existing home prices rise 1.1% m/m
- Beijing October new home prices rise 6.5% y/y
- Shanghai October new home prices rise 10.9% y/y
- Shanghai October new home prices rise 1.8% m/m
- Beijing October new home prices rise 0.6% m/m
The next release comes 15 minutes later when MNI releases its China business indicator. It doesn't get much attention but we'll have the details.
The final thing to watch from China is the daily yuan fixing. It's out just after 0115 GMT. The offshore yuan closed higher yesterday so expect the USD/CNY fixing higher.
