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Yuan Little Changed After 4Q China GDP Data

Yuan Little Changed After 4Q China GDP Data

Daniel Dubrovsky, Strategist

Talking Points:

  • China’s GDP 7.4% in 2014 vs 7.3% expected
  • Quarterly growth slowed at 1.5% vs 1.7% expected
  • USD/CNH little changed following economic growth in China

China’s GDP came in at 7.4% in 2014 which was unchanged from 2013. GDP in the fourth quarter of 2014 was also left unchanged at 7.3%. In addition Quarterly growth came in at 1.5% marking the slowest pace since the first quarter of 2012. The Dollar-Yuan was little changed in the aftermath of the data release which saw most numbers proving above expectations. This may have been as a result of two outlets (China Business News and NY Business News) leaking these figures (which proved to be true) minutes before the data was released.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.