Daily News | Chinese economy at a crossroad

On Friday the euro rose to its highest price in a month. One of the main reasons of its success is that the investors have switched focus from political concerns and instabilities (such as the situations with Catalonia and Brexit) to the economic viewpoint. Apart from that, it was supported by a weak dollar and strong September trade data from China. FX strategist at Societe Generale in London Kit Juckes predicts that the euro trade could rise above 1.30 within 18 months if the European economic recovery continues. As the euro rose to its highest price in a month, the ECB decided to extend asset purchases.

We have some other news from the other side of the world, too. Although we had some bad news the other day, it seems that the Chinese economy is still expanding. Next week the Communist Party Congress is taking place and everyone expects that President Xi Jinping sets the government’s economic and political priorities for the next half of the decade. Exports rose 8.1 percent and ANZ senior analyst for Chinese economy Betty Wang said that the growth momentum was still quite strong and better than their previous expectations. We just have to wait and see what the congress brings. Naturally, you can count on us covering it, so make sure you don’t miss our news next week.

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