China: Fourth quarter 2024 GDP surges to 5.4% YoY – ING

In other markets, China's fourth quarter 2024 GDP surged to 5.4% year-on-year, up from 4.6% YoY and marking the highest level of the year, and the fastest YoY growth of any quarter since 2Q23, ING's FX analyst Francesco Pesole notes.

Fourth quarter growth level is a significant beat

"This was also a much more impressive reading given that 2Q23 benefited heavily from a favourable base effect. The fourth quarter growth level was a significant beat and moving the full-year growth back to 5.0% will put to rest any potential debate on whether or not a lower growth level would have been sufficient to fulfil the 'around 5%' growth target."

Jan 17, 2025

AUD/USD: Upward momentum is building – UOB Group

Price movements are likely part of a range trading phase, expected to be between 0.6185 and 0.6230. In the longer run, upward momentum is building, but AUD must close above 0.6245 before a move to 0.6300 can be expected, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

NZD/USD: Expected to trade sideways between 0.5580 and 0.5630 – UOB Group

New Zealand Dollar (NZD) is expected to trade sideways between 0.5580 and 0.5630. In the longer run, NZD must break and remain above 0.5650 before a move to 0.5695 is likely, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.