Free Trial

Risk Appetite Wanes Post Chian PMI Misses


Markets are trading risk off post the China PMI misses. The manufacturing PMI fell 48.8, versus 49.5 expected and 49.2 prior. Services also fell more than expected to 54.5, from 56.4 prior and the 55.2 forecast. USD.CNH has spiked back up close to 7.1100, near Tuesday session highs. AUD/USD is down through 0.6500 (with a higher than forecast Apr CPI print locally not enough to offset). While NZD/USD is trading at fresh lows, last 0.6015/20, -0.45% weaker for the session. Broader USD sentiment has been supported.

  • Equity sentiment is weaker, Eminis ticking into negative territory, while the HSI is off by 1.50% at this stage, led by tech off by 2%, although part of this is reflective of weakness in US trade for China tech companies from Tuesday's sessson.
  • US yields are down a touch, the 2yr back to 4.44%, we opened closer to 4.46%.

To read the full story


MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.