Hong Kong's economy is on track to report firm third-quarter surge

Hong Kong's economy is on track to report firm third-quarter surge

Hong Kong's economy is supposed to have clocked firm surge in the third quarter, underpinned by ascending retail sales, a leap in tourists from mainland China as well as sturdy global trade.

The ex-UK colony has demonstrated brighter economic data for the last few months because buoyant stock as well as property markets helped to spur consumer spending, assisting the government to lift its full-year surge outlook to about 3-4%.

The city’s economy is supposed to have grown 3.5% during the third quarter from 2016, versus 3.8% in the previous quarter, according to the median estimate of five experts polled by Reuters.

One expert with a quarter-on-quarter estimate actually expects the city’s economy to have ascended a seasonally-adjusted 0.6% during the third quarter versus 1% surge in the April-June quarter.

In general, Asian economies highly dependent on trade have managed to derive huge benefits in 2017 from an improvement in demand worldwide.





USD Holds the Line
USD Holds the Line

The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now. 

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Increased Volatility is Coming
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The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.

Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

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What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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