Chinese economy likely grew 6.7 pct in Q4 2017, retail sales to have remained unchanged in December

The Chinese fourth quarter GDP data is set to be released tomorrow. Markets are looking at more of the same from the economic growth, anticipating a growth rate of 6.7 percent compared to a 6.8 percent rate during the previous year, noted Wells Fargo in a research report. Markets expect the Chinese economy to have grown 1.7 percent in the fourth quarter on a sequential basis.

Also, the retail sales data and industrial production data for the month of December is set to be released. Markets are anticipating retail sales to have remained the same at 10.2 percent at the end of the year from the previous month on a year-on-year basis. In the meantime, industrial production is likely to come in at 6.1 percent in December, also unchanged from the November reading. Therefore, markets expect no surprise from China, which might probably be good news for the global economy, stated Wells Fargo.

At 19:00 GMT the FxWirePro's Hourly Strength Index of Chinese Yuan was highly bullish 127.019, while the FxWirePro's Hourly Strength Index of US Dollar was highly bearish at -167.242. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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