Chinese data reassure investors
Although data indicate that Chinese economic growth slowed late in 2015, the 6.8% GDP reading posted was certainly less disappointing than some pundits had forecast. Chinese stock markets were able to rally somewhat, with the Shanghai Composite Index ending the session up 3.2%. Most international markets have followed suit, with Europe and London up 2% and the S&P500 showing gains of 1.5% on futures markets. Crude oil has jumped 1.75%, but is still trading below $30 a barrel. The loonie has also taken flight, rising some 75 basis points against the greenback. In short, unlike the blast of arctic air lying in wait for us outdoors, a gentle breeze of optimism is wafting over markets this morning.
This morning, we’ll be keeping an eye on foreign investments in Canada and the U.S., which should have a marginal impact on currency movements.
