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EUR Supported By Subsiding US Inflation, China Data In Focus

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After the markets expected that the Fed would ease up on future interest rate increases, subsided inflation in the US supported EUR. The latest UK result of 10.7 per cent in November was a drop from October’s 11.1 percent.

In other global developments, we’re watching China’s Industrial Production report for November, due on Thursday. According to market consensus, there will be an increase of 3.6 per cent year-over-year compared with the previous level of 5%. The effects of China’s zero tolerance COVID-19 policy were evident in December when it began to end. How quickly will China increase its industrial production pace? This answer could make the difference between global expansion and a global slowdown in the next quarter.

The Asian Development Bank (ADB), which is less optimistic about Asia’s growth, recently reduced its forecast for economic growth from 4.3 percent down to 4.2 percent by 2022. The ADB’s growth expectations for 2023 were revised down from 4.9 percent to 4.6 percent. The global monetary tightening and the war in Ukraine are the reasons for the dimming outlook.



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