Sweet Relief for Chinas Rocky Road?
Wednesday 24th January 2024
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The Aussie dollar gained a bit of ground briefly yesterday on reports of China launching a rescue package to placate their retail investors, with shares now the furthest they\u2019ve ever been behind the US. NAB\u2019s Ray Attrill says there\u2019s a question mark as to whether they are addressing the symptoms rather than the root cause. The European economy has had more bad news, with loan data showing companies still are not borrowing, whilst consumer confidence is falling. Is the ECB wrong to consider delaying cuts till June? Today\u2019s PMIs will shed some light on what has been a widening chasm between US and European economic health.
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