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Doubts over Chinese GDP - BTMU

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 23, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Analysts at Bank of Tokyo Mitsubishi noted the current conditions surrounding Chinese markets into the following week.

    Key Quotes:

    "Big bosses of China Inc., private and public, will be summoned to the Party Plenum next week so trading may be steadier in a range. There is some indication onshore banks may be doing less on/offshore arbitrage but we expect the CNH-CNY spread to hold.

    Unusually for us, we have doubts about recently reported Chinese GDP. The key discrepancy is between steady SAQQ #s and deteriorating operating conditions and profits we hear from the corporate side (with PMIs also suggesting slowing economic momentum). Reported news of PBOC intervening via forwards to disguise reserve losses confirms continued capital outflows."
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