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HSBC PMI Manufacturing: Remains Firmly In Expansion

INDIA

Today’s PMI read of 58.1 saw a modest decline from last month’s reading (58.5).

  • Having peaked in March, the readings have continued to show strength in the manufacturing sector in India.
  • Indian manufacturing remains in expansion at a time when their peers in Asia are teetering with contraction.
  • The reading points to no immediate pressure for the Central Bank and will allow time for the new coalition government and their policies to play out.
  • Bonds had taken the lead from global moves overnight trending lower in yield. USD/INR is relatively steady, last near 83.70.

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