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15.11.2019 17:43

Chinese data points to softer Q4 GDP – UOB

UOB Group’s Economist Ho Woei Chen, CFA and Senior FX Strategist Peter Chia assessed the recently published Chinese data and the impact on GDP figures.

“The bulk of China’s macroeconomic data for October have been released and they have broadly pointed to a weakened outlook in 4Q19 in the key areas of manufacturing, private consumption demand and investment. Despite signs of growth moderation, we do not expect the People’s Bank of China (PBoC) to adopt a significantly more aggressive monetary easing stance ahead. Weighed by trade and economic uncertainties, we maintain our view of a higher USD/CNY, towards 7.30 by 2H next year”.


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Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
Session Financial Centres UTC/GMT
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Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
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Sydney 21:00 06:00 00:00 09:00 00:00 09:00
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Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
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Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
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European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
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London 07:00 16:00 10:00 19:00 10:00 19:00
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American New York 12:00 21:00 15:00 00:00 15:00 00:00
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Chicago 13:00 22:00 16:00 01:00 16:00 01:00