Free Trial

Weak China Caixin PMI Miss Cools USD Sell-Off

FOREX

The China Caixin PMI miss (49.8 versus 51.5) has curbed the broader USD sell off. The BBDXY USD index got to lows of 1251.8, but now sits back above 1253.0, only down slightly for the session.

  • USD/CNH has risen back to around 7.2330/40, slightly weaker in CNH terms for the session. Earlier lows were close to 7.2100. Onshore and Hong Kong equity sentiment has also dipped into the red.
  • Other USD/Asia pairs have mostly ticked up from session lows. USD/KRW spot is back to 1368, after touching a fresh low of 1365.65 earlier.
  • USD/JPY got to lows of 148.51, but now sits back near 149.30, trimming half its advance for the session today.
  • AUD/USD is off around 0.25%, last near 0.6925/30, the worst G10 performed in the space so far today.

To read the full story

Close

Why MNI

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.