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1710 2024

Press Release

Chinese yuan steady while traders monitor stimulus clues

London Loves Business

The Chinese yuan remained relatively stable as the Chinese government reaffirmed its support for the struggling property market. However, investors were hoping for stronger measures to support home demand. This cautious approach may lead to ongoing market volatility as investors assess the effectiveness of current policies amid China’s economic difficulties. These recent developments in the housing market and global economic trends could further impact the yuan. The weaker-than-expected housing policy has weighed on investor confidence, pushing some to favor other currencies like the dollar.

Attention now shifts to the upcoming release of China’s GDP and Industrial Production Report. The market anticipates a potential decline in GDP growth, projecting a drop to 4.5% in Q3 from 4.7% in Q2, while industrial production is expected to remain stable at 4.6% year-on-year for September. A decrease in GDP growth could undermine investor confidence in the yuan, leading to potential depreciation, especially if the results are disappointing. This slowdown may also drive government bond demand, pushing their prices and lowering yields.

Source: London Loves Business

London Loves Business

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