It seems like the rally of the greenback has ended. On Monday, the US dollar index was below $93.50. Tuesday’s attempts to recover are not successful. The index is below $93.40. No important economic data will be released today.
China's September industrial revenues ascend most in almost six years
In September, revenues for China's industrial powerhouses edged up the most in almost six years because government crackdown on air pollution drove fears of winter supply shortages and also backed prices of finished goods, including copper and steel.
Sustained earnings ascend will provide China's policymakers with more room to restructure bloated as well as often inefficient state-owned enterprises dominating the industrial landscape and accounting for a hefty portion of China’s corporate debt.
In September industrial revenues grew 27.7% from 2016 to 662.18 billion yuan, speeding up from a 24% soar in August, as the National Bureau of Statistics informed on its website on Friday.
It turned to be the steepest revenue since December 2011, when gains surged 31.5%.
For the first 9 months of 2017, Chinese firms managed to increase gains of 5.58 trillion yuan, which is 22.8% more compared to the same period of 2016.
This economic indicator is highly important for the Bank of England’s monetary policy because it is used as the central bank’s inflation target.
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