Macro statistics published today in China, have appeared positive for the market. Thus, industrial production in May increased by 8.8%, which is 0.1% better than in April. Investments in capital assets rose in May compared with the same period last year by 17.2%, while retail sales grew by 12.5% against 11.9% in April.
Traders in many countries are watching at the economic indicators, due to the fact that China is a major trading partner for countries such as Australia, New Zealand and the United States, as well as the world's first consumer of gold and the second largest consumer of oil.
Improvement in the Chinese industry raises GDP growth prospects worldwide. Despite this, we maintain negative outlook for the Chinese market on the background of crisis at country's property market.
Wish you the profits!
FXFINPRO Capital Analytical department.