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Chinese data could jolt markets next week – TDS

FXStreet (Edinburgh) - Strategists at TD Securities have remarked the relevance of the upcoming slew of Chinese data.

Key Quotes

“August data reports are not likely to be pretty, given poor PMIs, policy miscommunication (CNY and equity market), and the Tianjin port blast”.

“For the trade balance, we anticipate the Tianjin explosion to weigh on the August numbers, which have shown a “soft” pattern in recent years, anticipating a reading of $US46bn against consensus of $49.4bn”.

“China CPI is likely to surprise a bit on the upside on strength in pork prices, rising by 2.0% y/y in August”.

“Finally, we get the PBOC reserves from August, with eyes focused keenly on this report to gauge what was spent to keep market volatility at a minimum”.

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