2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
China Caixin PMI tips suddenly back into expansion
In June, Caixin's China manufacturing PMI surpassed expectations, giving hope that the world's number two economy continues defying fears of a slowdown.
The private survey offered 50.4, thus marking a three-month peak. Well, it leapt from May's result of 49.6 that appeared to be an 11-month minimum and outclassed a Reuters survey forecast for 49.5.
Levels above 50 point to expansion, while levels below 50 traditionally stand for contraction.
The Caixin PMI usually focuses on smaller companies, while the official data deals with larger ones, in particular state-owned companies.
The soar was bolstered by stronger leaps in production as well as new orders. As for the June Caixin PMI, it didn’t happen to be all positive, especially considering that the publication telling the optimism toward the business outlook hit its lowest value this year.
However, the improved data provided confirmation of the official PMI figures, issued on Friday that showed that in June manufacturing activity stepped up more than expected.
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.