Chinese Dragon Breathes Sparks

Chinese worries continue to scare markets as the nation’s trade data released earlier today fell far short of expectations, casting doubts on whether the sputtering global economy will regain traction any time soon. This comes on the back of the ECB’s downbeat assessment of the Eurozone economy yesterday. With Italian and Spanish economy languishing in recession, there is a strong possibility that next week’s Eurozone GDP data could reveal a contraction for the second quarter.

At home, output producer price inflation has cooled, strengthening belief that consumer price inflation might maintain its downward trend next week and head much closer to the BoE’s target rate of 2%.

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