Since the departure of Donald Trump from the White House in January, discussion of the relationship and tension between these 2 economic powerhouses has rapidly diminished. This week sees the focus shift across to both of these nations in the context of economic data.
From the US, we see 2 major economic reports. First and foremost, inflation data on Tuesday. After the vast quantities of US dollars printed to address the pandemic, economists are expecting a surge in consumer prices. Secondly, retail sales data scheduled for Thursday. The context of the importance of this report stems from the recent stimulus checks distributed across the US. The US consumer must continue to spend as the economy slowly reopens.
The key data from China this week is their 2021 Q1 GDP numbers. They’re the first to release such data and, as a result, could have a broader impact on global financial markets. Also due out from China this week: March trade balance, retail sales, industrial production, and unemployment figures.
Have a good week.
Written by Viv Savani. 7:14am, April 12th 2021
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