16 Apr 2014
Flat Chinese GDP should support AUD, NZD - Westpac
FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, outlines China’s key data for this month (at 2 GMT) as the main focus in Asia.
Key Quotes
"Westpac expects that while growth slowed in Q1, given base effects, 7.4% y/y is about right, versus 7.7% in Q4 and consensus of 7.3%. There was chatter in London about a much weaker number; we do not place weight on this and note local press today suggesting a number near consensus. This should help AUD, NZD and Asian FX. While the monthly data will be worth noting, markets will react only to headline GDP."
Key Quotes
"Westpac expects that while growth slowed in Q1, given base effects, 7.4% y/y is about right, versus 7.7% in Q4 and consensus of 7.3%. There was chatter in London about a much weaker number; we do not place weight on this and note local press today suggesting a number near consensus. This should help AUD, NZD and Asian FX. While the monthly data will be worth noting, markets will react only to headline GDP."