China Retail Sales +34.2% On Year In March China Retail Sales +34.2% On Year In March
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China s Q1 GDP growth hits 19% on demand recovery, policy support
While the reading will be heavily skewed by the plunge in activity a year earlier, the expected jump would be the strongest since at least 1992, when official quarterly records started, according to the median forecasts of 47 economists polled by Reuters
Reuters | April 15, 2021 | Updated 14:45 IST
China s economy likely grew at record pace of 19% in the first quarter, rebounding from a pandemic slump early last year as demand recovered at home and abroad and as policy support for ailing smaller firms continued, a Reuters poll showed. While the reading will be heavily skewed by the plunge in activity a year earlier, the expected jump would be the strongest since at least 1992, when official quarterly records started, according to the median forecasts of 47 economists polled by Reuters.
Inflation nerves return
US yields rise, boost dollar
The inflation genie I mentioned on Friday found life rather uncomfortable in its bottle, it appears, as US yields shot higher on Friday. Notably, the long end of the curve steepened markedly, and for all the noise surrounding the rise in 10-year yields, the 30-years was where the real action was.
That was enough to unwind the intra-day rallies on Wall Street, with the rotation into cyclicals at the expense of technology very much in evidence again. That left the Dow Jones higher, the Nasdaq stretchered of injured once again, and the S&P 500 left somewhere in the middle.
USD/CAD - Canadian Dollar Boosted by U.S. Stimulus The Canadian dollar is consolidating Friday’s gains in a cautious FX market.
USD/CAD collapsed from $1.2570 on Friday to $1.2465 after a stellar Canadian employment report. Canada gained 259,200 jobs in February, far surpassing the forecast for a 75,000-job increase.
The Canadian dollar is benefitting from the $1.9-trillion U.S. stimulus package as well. The package is expected to fuel a spike in U.S. economic growth, and Canada, as America’s largest trading partner, will benefit by default.
The Canadian dollar gains are being underpinned by firm oil prices. West Texas Intermediate, the North American benchmark price, is trading a $65.64 U.S./barrel. Many analysts expect prices to continue to rise to at least $70.00/b as the post-pandemic global economy rebound leads to higher crude demand.