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18 Oct 2013
Flash: China's Q3 GDP in focus - Westpac
FXstreet.com (Barcelona) - Important Chinese data is due at 2GMT, with Q3 GDP dominating the calendar, notes Sean Callow, FX Strategist at Westpac.
Key Quotes
"After a firmer trend in monthly data and more upbeat comments from officials on H2 growth, the median forecast is 7.8% y/y versus 7.5% in Q2. The little watched q/q estimate is seen at 2.1% after Q2’s 1.7%."
"Westpac looks for 7.7% with downside risks. The headline GDP reading should drive the response in AUD, NZD and Asian currencies, overshadowing the release of Sep industrial production (f/c 10.2% y/y vs 10.4% in Aug), fixed asset investment (20.3% y/y) and retail sales (about steady at 13.5% y/y)."
Key Quotes
"After a firmer trend in monthly data and more upbeat comments from officials on H2 growth, the median forecast is 7.8% y/y versus 7.5% in Q2. The little watched q/q estimate is seen at 2.1% after Q2’s 1.7%."
"Westpac looks for 7.7% with downside risks. The headline GDP reading should drive the response in AUD, NZD and Asian currencies, overshadowing the release of Sep industrial production (f/c 10.2% y/y vs 10.4% in Aug), fixed asset investment (20.3% y/y) and retail sales (about steady at 13.5% y/y)."