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Looking Through Latest Chinese PMIs

CROSS ASSET

Nothing in the way of immediate market reaction in AUD & CNH FX crosses to the Caixin services & composite readings out of China (which were a touch firmer than expected), while e-minis continue the pre-data downtick, U.S. Tsys don't budge and the Hang Seng moves further away from early session highs.

  • A reminder that more sizable beats in the official PMI suite and Caixin manufacturing PMI generated a meaningful market reaction earlier this week, raising the bar for such an episode when it comes to today's data.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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