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Chinese Economy Grew 5% in 2024 (if You Believe it), UK Retail Sales Disappoint, and "Day One" Looms
The US dollar is firmer against most of the G10 currencies, but the tone is one of consolidation. Trump's inauguration on Monday, and the US markets are closed for the Martin Luther King holiday. Investors, businesses, and foreign countries have been warned of action on day one. Meanwhile, the yen is paring yesterday's gains, though the market anticipates a BOJ rate hike at the end of next week. The UK's retail sales cap a string of soft data. The meltdown in Gilts ended this week, but sterling remains vulnerable. China's Q4 GDP was a little stronger than expected, but few put much credence in the data. Equities in ... (full story)