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China: All set to release monthly labour data from 2016 – NAB

FXStreet (Delhi) - Gerard Burg, Senior Economist at NAB, notes that come 2016 and we will be getting the results of a new monthly labour force survey of China, which will be released by the National Bureau of Statistics.

Key Quotes

“While there are only limited details as to the scope of this survey, the results may finally shed some light on one of the most opaque elements of China’s economy – its unemployment rate.”

“The stability of China’s official unemployment rate over the past fifteen years has been a source of scepticism, with most observers considering the measure as an unreliable indicator of underlying labour market conditions.”

“From our perspective, we hope the greater benefit that policy makers will derive from timely labour market data will be sufficient to limit the potential distortions. That said, this will only become clear with time.”

USD/JPY: Bulls fighting for control, around 120.50

USD/JPY extends its overnight choppy–trend in the mid-Asian trades, now recovering from a dip to session lows; as markets continue to weigh Japan’s ratings downgrade and at the same time remain wary ahead of the Fed verdict due later today.
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NZ: Disappointed Q2 GDP numbers, slowing momentum – HSBC

Research Team at HSBC, note that the recently released GDP numbers of NZ signals a below trend growth in the first half which is a clear indicator that the growth momentum is slowing down for the Kiwi economy.
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