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CHINA - Growth slows to three year low

Written by Andrew Isbister on July 13th, 2012.      0 comments

For the sixth quarter in succession GDP growth has slowed in China. GDP data just released saw growth at 7.6, which was below the market expectation of 7.7%. The fact that we would see a slowdown, was anticipated by 95% of the market, when you look at most pre release surveys. Calls will now come for further economic stimulatory measures from Beijing, to avert a slowing China dragging the global economy further into the bog.   
 
Judging by the impact on the currency markets, the data was not as bad as had been expected by traders. The AUDUSD gained half a percent on the release, with the NZDUSD up 35 points also. Both have now dipped back to pre announcement levels. 
 
Current interbank rates are:
AUDUSD 1.0140    NZDUSD .7901
 

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