It still appears as if we are unable to escape the flux that China’s industrial complex finds itself in. Trade data this morning makes for poor reading and seems as far from a China rebound from when zero-COVID ended.
Predicting economic outlook is presently akin to chart analysis. The are so many variables and moving parts that it is as easy to come up with a sanguine projection as with a depressing one.
In another timely smash and grab of the narrative, Saudi Arabia, judging well the twitch factor being experienced in markets after the broad sell off due to the US downgrade by Fitch, pre-empts the OPEC JMMC due today and extended its voluntary cut of 1 million barrels per day into September.
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