Forex market news, CNY/USD. Chinese industrial production rose by 9.6% in May 2012, in comparison to its value in 2011. This April the growth of Chinese industrial production has amounted to 9.3%, as informed by the National Bureau of Statistics of China.
In particular, annual growth of light industry has amounted to 9.1% and of heavy industry – to 9.8%.
Investments in durable equipment in industrial regions of the country during the period of January-May 2012 have risen by 20.1%, in comparison to similar results in 2011. At the same time, growth rate has slightly dropped in comparison to first four months of 2012, when it amounted to 20.2%.
According to the results of the 1st quarter of 2012, gross profit of enterprises in PRC has risen by 10.7%. The rise concerns 40 out of 41 industries in the country. In particular, by 8.5% in ferrous industry, by 11.9% in textile industry, by 13.3% in production of computer, telecommunication, and electronic equipment, and by 16.4% in the sphere of automobile construction.
In May 2012 export of above-mentioned enterprises rose by 6.2%, having reached CNY 896.4 bln. ($142.2 bln.) in money terms.
CNY/USD keeps falling. According to Masterforex-V Trading System , the pair is within the flat zone of Н5 wave а(С)/С of Daily wave АВС. When the upper line of the flat 6.3787 is broken, bullish wave will continue by wave С Н10. The pair will start forming correctional Daily wave В if sloping channel MF or pivot MF 6.3453 are broken, whereas long-term bearish trend will continue only is pivot MF 6.2882 and subsequent FZR are broken.
