Inflation data is the most important indicator that affects the central bank’s monetary policy.
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.
Although yesterday the US dollar index closed at the low level comparing to the daily movement, today it has been moving up again.
In June, inflation in Great Britain tacked on at a slower than anticipated tempo, thus contributing to the major bank’s dilemma as it considers whether to have interest rates lifted next month or not…
In February, Japan's exports probably ascended at the fastest pace for two years due to a softer yen as well as improving global demand, as a Reuters survey showed on Friday…
On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…
On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…