China

China's stats Bureau : "Domestic demand is still insufficient", but seeing green shoots

• Discover the latest on China's economic recovery as domestic demand lags but signs of improvement emerge in key indicators.

China retail sales YoY for October 4.8% versus 3.8% expected

• Retail sales for October 2024

China industrial production 5.3% versus 5.6% estimate

• Industrial production for October 2024

China's home prices year on year for October -5.9% (previous -5.8%)

China’s annual production of new energy vehicles surpassed 10 million units on Thursday

• 12 mn expected for the year as a while

PBOC sets USD/ CNY reference rate for today at 7.1966 (vs. estimate at 7.2326)

• PBOC CNY reference rate setting for the trading session ahead.

PBOC is expected to set the USD/CNY reference rate at 7.2326 – Reuters estimate

• PBOC CNY reference rate setting for the trading session ahead.

PBoC promised stronger damping to support CNY, and that's what are seeing

• For example the PBOC set the USD/ CNY mid-point today at 7.1991 vs. estimate at 7.2305

PBOC sets USD/ CNY mid-point today at 7.1991 (vs. estimate at 7.2305)

• PBOC CNY reference rate setting for the trading session ahead.

PBOC is expected to set the USD/CNY reference rate at 7.2305 – Reuters estimate

• PBOC CNY reference rate setting for the trading session ahead.

Green shoots in China? Excavator sales grew 15% in October

• Sales grew at a faster rate domestically

It's not a pretty picture in China

• Big implications for global growth

Fears for China on US tariffs are overblown

• China's exports to the US are much lower than they were in the first Trump administration.

China plans further cuts to house buying taxes to boost property sector

PBOC sets USD/ CNY central rate at 7.1927 (vs. estimate at 7.1944)

• PBOC CNY reference rate setting for the trading session ahead.