How Will USD React To The US PPI?
The US PPI will come out on Thursday, May 12, at 15:30 MT time.
S&P downgrades China as credit surge is still too fast
China's vigorous attempts to tame risks from its fast buildup in debt aren’t working as rapidly as expected and credit surge is still excessively fast, as S&P Global Ratings told on Friday, just a day after it dared to have the Asian country's sovereign credit rating downgraded.
While S&P informed months ago that a downgrade might be on the cards, the organization told it made up its mind to make the call having concluded that China's "de-risking" drive, which broke out early this year impacted credit surge less than initially expected.
Notwithstanding the Chinese authorities have demonstrated greater resolve to implement the deleveraging policy, S%P keeps observing overall credit in the corporate sector to stick to 9%, as an S&P senior director of sovereign ratings, Kim Eng Tan revealed in a conference call to explain the one-notch downgrade to from AA- to A+.
Tan added that broader lending by all banks, excluding equity fund-raising, has started soaring having surged by a relatively firm 12-13% for the last few years.
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Will CPI push USD higher?
The US CPI will come out on Wednesday, May 11, at 15:30 MT time (GMT+3).
Will oil change the trend after OPEC meetings?
Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
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