Free Trial
WTI TECHS

(G3) Key Short-Term Resistance Defined at $82.38

GOLD TECHS

Fresh Cycle High

BUNDS

Underpinned on the cash open

EURJPY TECHS

Key Support Remains Exposed

EQUITY TECHS

E-MINI S&P (H3): Trades Through The 50-Day EMA

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

North East Asian PMIs Displayed Some Resilience In November

ASIA

North East Asia (NEA) PMIs arguably painted somewhat of a more resilient picture for November, particularly given on-going concerns around the China growth backdrop. The just released Caixin China PMI came in better than expected at 49.4 versus the 48.9 forecast. We are now above recent trough levels of 48.1 recorded in September, albeit still in contractionary territory. Today’s outcome also has to be tempered with the weaker than expected official PMI results from earlier in the week.

  • The first chart below overlays the China Caixin PMI index against the South Korea and Taiwan PMIs, along with the US ISM.
  • The South Korea has also trended higher since September but remains in contractionary territory (49.0 latest versus 48.2 in October). The Taiwan PMI ticked up slightly (to 41.6 from 41.5), however in levels terms we are still around 2020 lows. The detail in both survey prints showed some modest improvement.

Fig 1: NEA PMIs & The US ISM

Keep reading...Show less
257 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

North East Asia (NEA) PMIs arguably painted somewhat of a more resilient picture for November, particularly given on-going concerns around the China growth backdrop. The just released Caixin China PMI came in better than expected at 49.4 versus the 48.9 forecast. We are now above recent trough levels of 48.1 recorded in September, albeit still in contractionary territory. Today’s outcome also has to be tempered with the weaker than expected official PMI results from earlier in the week.

  • The first chart below overlays the China Caixin PMI index against the South Korea and Taiwan PMIs, along with the US ISM.
  • The South Korea has also trended higher since September but remains in contractionary territory (49.0 latest versus 48.2 in October). The Taiwan PMI ticked up slightly (to 41.6 from 41.5), however in levels terms we are still around 2020 lows. The detail in both survey prints showed some modest improvement.

Fig 1: NEA PMIs & The US ISM

Keep reading...Show less