Source: National Bureau of Statistics China’s factory output continued to expand in June, but growth fell to its lowest level since February as firms were hit by raw material costs and supply issues. The Purchasing Managers Index (PMI) fell to 50.9 from 51.0 in May, but still above the 50.0 threshold that separates expansion and contraction.The Non-manufacturing PMI eased … [Read more...] about Higher Costs and Supply Issues Drag Chinese Manufacturing to Four-Month Low
Forex News
USDSEK: Krona Peaks in Weekly Outlook Ahead of Travel Reopening
Sweden’s exports surged 1.1% against 0.9% in the import market in May 2021 (MoM).Sweden’s gross domestic product (GDP) is projected to hit 4.7% in 2021. The EU has lifted travel restrictions against US citizens, with Sweden set to resume relations on June 30, 2021. The USDSEK pair lost 1.39% in the week ending on June 25, 2021, but gained 2.19% (MoM) after closing … [Read more...] about USDSEK: Krona Peaks in Weekly Outlook Ahead of Travel Reopening
Consumer Confidence Climbs to Pandemic-High in June
Source: The Conference Board Consumer confidence grew to its highest level since the COVID-19 pandemic hit in June, as business conditions are widely expected to continue improving in the coming months. The Consumer Confidence Index climbed to 127.3 in June, following the upward-revised 120.0 in May. This is the highest since March 2020.The Present Situation Index which … [Read more...] about Consumer Confidence Climbs to Pandemic-High in June
PBOC Dispels Fears of Policy Tightening in a Reassuring Tone of Economic Stability
Source: Bloomberg The People’s Bank of China is noticing more stability and improvement in the economy despite persistent domestic and global risks. CSI 300 is down -1.17%, USDCNY is up +0.17%. The statement by China's central bank shifts from its first quarter tone when it said the growth was unbalanced.The reassuring policy tone by PBOC dispels some fears of … [Read more...] about PBOC Dispels Fears of Policy Tightening in a Reassuring Tone of Economic Stability
World Bank Projects a Higher Growth of 8.5% in China This Year
Source: MarketWatch The World Bank expects China to post economic growth of 8.5%, up from previously forecasted 8.1%. CSI 300 is down -1.17%, USDCNY is up +0.09%. The World Bank expects China’s growth to moderate to 5.4% next year once activity normalizes.The World Bank’s report is a positive sign for China’s growth, whose consumer and factory activity has hit above … [Read more...] about World Bank Projects a Higher Growth of 8.5% in China This Year
