China’s industrial production growth is expected to have slowed in July. According to consensus expectations, industrial production is likely to have grown 7.1 percent, as compared with the prior month’s growth of 7.6 percent.
China’s authorities are facing the daunting task of deleveraging the non-financial corporate sector while also threading the needle on the government’s economic growth target. Indicators releasing next week would probably show that the Chinese economic activity was quite stable at the beginning of the third quarter; however, the economic growth is expected to gradually decelerate later in 2017 and through 2018 as an aging population and high debt loads drag on labor and capital growth, noted Wells Fargo in a research report.
At 22:00 GMT the FxWirePro's Hourly Strength Index of Chinese Yuan was neutral at -2.87522, while the FxWirePro's Hourly Strength Index of US Dollar was bearish at -75.4199. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
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