This week we anticipate inflation data and retail sales for Britain and the US and employment data for Australia. What are the forecasts and how they may affect the currency pairs? Read this week's news wrap!
China’s pollution control is pressured by decelerating economy
China's pollution control efforts are suppressed by the country’s decelerating economy. The Chinese environment minister told that statesmen shouldn’t drop their guard in winder.
The previous week, Li Ganjie informed officials that the country’s clean-up campaign was getting too complex.
Earlier in 2018, the country’s leader Xi Jinping pledged to employ the full power of the ruling Communist Party to resolve the country's everlasting environmental issues. However, the Chinese cabinet is also trying to make sure that the clampdown on pollution won’t disrupt an already decelerating economy.
Having shut down huge swathes of industry last winter with the aim of meeting politically important smog objectives, the Chinese cabinet has pledged to take a more flexible approach in 2018, providing local governments with the power to set their own objectives.
However, while the Asian country is currently ahead of schedule when it comes to taming pollution, the local environment is facing a growing number of challenges because of decelerating surge, speeding down surge, structural economic updates, widening regional disparities as well as unfavorable weather conditions.
From July to September of 2018 the Chinese economy faced its slowest quarter since 2009. The country’s GDP added 6.5% in contrast with 2017. In September, industrial gains also speeded down for the fifth consecutive month.
In spite of the fact, China is doing its best to stimulate surge, several major regions still intend to start a winter campaign against smog anticipated to make hundreds of Chinese factories cut output.
The key manufacturing hub of Jiangsu in eastern China as well as the major steel producing region of Hebei in the north are going to impose output cuts of 30%-50% this winter. As for other cities in the north, they are under pressure to meet strict air quality objectives.
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
In October, China's factory-gate inflation decelerated for the fourth month due to cooling domestic demand as well as manufacturing activity, thus indicating that the country’s government would probably come up with more growth-boosting measures against…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…