National Bureau of Statistics of China Bullish Outlook For anyone who likes to read data straight from the Chinese Government here, it is, and it's bullish, to say the least. The only concerns I have has to do with surplus Oil finding its way into the market under the radar with Russia and ghost tankers creating new trade routes unfortunately it weighs on Oil and the US has been flatlining Oil prices always up pennies and lacking any bullishness the firms that came out readjusting the dollar figure for Oil extending it 12-18 months if $100 is to be hit sounds like last year never hitting $100 again and changing their outlook hurts credibility because at first everyone was just throwing numbers around before data was available so they rushed back out for damage control also a taste of reality on expectations even with China growth in manufacturing Oil didn't do anything but it kept a floor under it but that will be challenged at some point and I'm looking at Oil right now up a whopping $0.30 pathetic and Oil will probably remain in a tight trading pattern till March 21-22 when the FED hopefully does the right thing. See what tomorrow throws at us with FED speeches and Manufacturing numbers and unless something bullish happens Friday might be more of the same. At $78 Oil as far as EIA goes this is our average for the year.
Purchasing Managers Index for February 2023 (stats.gov.cn)