China’s NBS: Economic recovery still faces many difficulties and challenges

Dhwani Mehta FXStreet

Following the publication of the high-impact China’s activity data for May, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Monday.

Key quotes (via Reuters)

China's economic operations generally steady, some main indicators showed recovery in May.

Summer grains output is expected to see another bumper harvest.

Expect declines in PPI to narrow further.

Expect CPI to show mild rebound.

Property market shows positive changes, but still in the middle of adjustments.

China's economy likely to continue to recover despite complex external environment.

Policy measures to support the economy are gaining traction.

Employment situation has improved, but still faces many challenges and difficulties.

There is ample scope for expanding effective investment.

Expect consumption to show further recovery on policy support.

Market reaction

AUD/USD is battling 0.6600, down 0.16% on the day, at the press time.

Australian Dollar PRICE Today

The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the weakest against the US Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.04%	0.03%	0.08%	-0.03%	0.18%	0.07%	0.02%
EUR	-0.04%		0.02%	0.07%	-0.06%	0.06%	0.08%	-0.02%
GBP	-0.03%	-0.02%		0.12%	-0.07%	0.02%	0.02%	-0.01%
JPY	-0.08%	-0.07%	-0.12%		0.00%	0.11%	0.13%	0.00%
CAD	0.03%	0.06%	0.07%	-0.01%		0.15%	0.09%	0.06%
AUD	-0.18%	-0.06%	-0.02%	-0.11%	-0.15%		0.07%	-0.03%
NZD	-0.07%	-0.08%	-0.02%	-0.13%	-0.09%	-0.07%		-0.03%
CHF	-0.02%	0.02%	0.00%	-0.00%	-0.06%	0.03%	0.03%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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