30 Mar 2015
China official March manufacturing PMI expected to dip to 49.7 – BBH
FXStreet (Barcelona) - Previewing the key Chinese data releases in this week, the Brown Brothers Harriman Team, expects both official and HSBC manufacturing PMIs to remain soft and trigger further easing from the PBOC.
Key Quotes
“China reports official March manufacturing PMI Wednesday, expected at 49.7 vs. 49.9 in February. It will also report official non-manufacturing PMI at the same time, which stood at 53.9 in February.”
“Later that day, HSBC will report final March manufacturing PMI, expected at 49.3 vs. the 49.2 flash reading and 50.7 final in February.”
“With both official and HSBC PMI readings staying under 50, markets will anticipate further PBOC easing ahead.”
“Recent PBOC fixes for USD/CNY have been lower, confirming our belief that it was not aiming for continued one-way yuan weakness.”
Key Quotes
“China reports official March manufacturing PMI Wednesday, expected at 49.7 vs. 49.9 in February. It will also report official non-manufacturing PMI at the same time, which stood at 53.9 in February.”
“Later that day, HSBC will report final March manufacturing PMI, expected at 49.3 vs. the 49.2 flash reading and 50.7 final in February.”
“With both official and HSBC PMI readings staying under 50, markets will anticipate further PBOC easing ahead.”
“Recent PBOC fixes for USD/CNY have been lower, confirming our belief that it was not aiming for continued one-way yuan weakness.”