None of the data releases today are likely to move FX rates too much upon release. A disappointing services PMI from China will likely be shrugged off, as the country reopens from COVID and cases surge there is a short-term economic cost (and health cost of course) but this will pass and data should improve in the months ahead. China is stimulating its economy. I posted the following yesterday ICYMI:
1. policy support for the economy:
2. A potential bounce out of COVID:
3. Seasonal demand:
4. More property market support (some sources are reporting this as “China is reportedly mulling measures to shore up “too big to fail” developers”):
-
This
snapshot from the ForexLive economic data calendar, access
it here. -
The
times in the left-most column are GMT. -
The
numbers in the right-most column are the ‘prior’ (previous
month/quarter as the case may be) result. The number in the column
next to that, where there is a number, is the consensus median
expected.
