Asian financial markets brace for Chinese GDP figures on Wednesday, the key number in a batch of Chinese indicators to be released as investors also try to navigate a heavy flow of global economic, market and geopolitical cross currents.
On top of that, the Middle East crisis appeared to deepen significantly after Palestinian health authorities said an Israeli air strike on a hospital in Gaza killed around 500 people. Israel has denied conducting the attack. This comes on the eve of President Joe Biden's planned visit to Israel on Wednesday.
That's the median estimate in a Reuters poll of 60 economists, and would mark a notable slowdown from 6.3% in Q2. The poll's range is 3.5% to 5.1%. Bear in mind that the government's 2023 GDP goal is for growth of around 5%.Staying in China, the country's largest private property developer Country Garden is lurching toward defaulting on its offshore debt if it is deemed not to have made a $15 million coupon payment on Tuesday.
The U.S. dollar, meanwhile, is creeping higher against Asia's two biggest currencies, pushing Japan's yen and China's yuan back down to key areas that their central banks are sure to be monitoring closely - 150.00 yen and September's 16-year high above 7.34 yuan.
I was all set for my trip, or so I thought. That's when my friend told me to always keep a bread clip when traveling. The reason is quite clever.NEW YORK — Donald Trump returned Tuesday to the civil fraud trial that imperils his real estate empire, watching and deploring the case as an employee and an outside appraiser testified that his company essentially put a thumb on the scale when sizing up his properties' value.
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