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4 Jul 2014
China data on the improve, supportive of AUD and NZD - BNZ
FXStreet (Łódź) - The BNZ team of economists note that activity in China has looked to have improved over the past two months, easing concerns that the country would miss official growth estimates.
Key quotes
"The authorities embarked on targeted but modest stimulus measures, including some speeding up of local government spending, new investment into railways and social housing, and reserve requirement ratio cuts for select banks."
"This all helped both the official and HSBC PMIs turn upward, with the latter breaking above the 50 mark for the first time in 2014. At the margin, this adds to support for AUD and NZD."
Key quotes
"The authorities embarked on targeted but modest stimulus measures, including some speeding up of local government spending, new investment into railways and social housing, and reserve requirement ratio cuts for select banks."
"This all helped both the official and HSBC PMIs turn upward, with the latter breaking above the 50 mark for the first time in 2014. At the margin, this adds to support for AUD and NZD."