Forex News China 2Q GDP data slightly below market expectations at +10.1% but growth remains robust, points to very strong domestic demand, partially offsetting weaker external demand, says Barclays Capital commodity analyst Yingxi Yu. Key for commodity markets is perception of government wariness of to growing risk of significant slowdown for small- to medium-sized enterprises; could prompt relaxation of credit controls, would boost downstream metal businesses. But right now, possibility of relaxation of credit more "a factor to watch," says Yu.
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