Everyone knows about the efforts to tighten up a little in China by now, right?
Its been well telegraphed
Earlier data from China (October) is showing slowing upward momentum:
- China's stats bureau says economic growth is within a reasonable range
- China October Retail Sales 10.0% y/y (expected 10.5%)
- China October Fixed Assets (excluding rural): 7.3% y/y (expected 7.3%)
- China October Industrial Production: 6.2% y/y (expected 6.3%)
- PBOC sets USD/CNY reference rate for today at 6. 6399 (vs. yesterday at 6.6347)
- More on urgings by ex-SAFE official for looser yuan FX control
