The data published on CNY New Loans for February shows a significant decrease from the previous data and forecast. This suggests a slowdown in lending activity in China, which could be a sign of weakening economic growth. This could have implications for global trade and demand for commodities, as China is a major consumer of raw materials. The decrease in new loans could also indicate a tightening of credit conditions, which may impact domestic consumption and investment in China.
Currency sentiment: Bearish on CNY
Sentiment timeframe: Medium to long term