Yuan Little Changed After 4Q China GDP Data

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.