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Chinese Yuan: PMI resilience but trade risks grow – Commerzbank - FXStreet
Commerzbank
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Chinese Yuan: PMI resilience but trade risks grow – Commerzbank FXStreet
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China PMI edges higher, but second-quarter slowdown still likely
The desk posits that while China's manufacturing PMI has shown some signs of recovery, it does not signal a broader economic turnaround, with potential policy implications stemming from sluggish domestic demand. Per the full note from ING, the June PMI rose to 50.3, slightly better than market expectations of 50.1, yet suggests that a second-quarter slowdown remains probable. This mixed data could lead to expectations for increased policy support ahead of the July Politburo meeting, indicating a more cautious outlook among traders ahead of upcoming policy decisions.
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