Chinese annual CPI fell in July for the first time in 28 months. Economists at TD Securities analyze CNY outlook after the latest Chinese data.
China falls into deflation
China slipped into deflation for the first time since Feb 2021 with July CPI coming in at -0.3% YoY. Today's report highlights the economy faces subdued price pressures from weak economic demand, but the details don't point to an imminent risk of a deflationary spiral.
The divergence in data surprises between US and China is likely to act as a headwind for the Yuan and an anchor for the USD.
The path of least resistance for USD/CNY is likely a break above the YTD highs.
风险提示：本文所述仅代表作者个人观点，不代表 Followme 的官方立场。Followme 不对内容的准确性、完整性或可靠性作出任何保证，对于基于该内容所采取的任何行为，不承担任何责任，除非另有书面明确说明。
喜欢的话，赞赏支持一下
暂无评论。 来发表第一条观点吧。