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Forex & Equities: Chinese PMI at 7 Month High; Charts

Posted by Akhilesh Ganti on Jun 22, 2014 10:59:00 PM

China's HSBC Flash Manufacturing PMI came out at a 7-month high of 50.8 exceeding both analyst estimates of 49.7 and last period's reading of 49.4. The surprising rise into expansionary territory (>50) for a key manufacturing gauge suggests that the measures undertaken by the government to spur growth appear to be working and validates, at least for now, Premier Li Keqiang's assertion that the Chinese economy will not have a hard landing. Chinese stocks and AUD/USD spiked higher on this release.

HSBC PMI & AUD/USD tick chart - {Source: Bloomberg}(click to enlarge)

China HSBC PMI jun2014

Ranges:{WWM's New ALPHA Trader - DAILY charts [EUR, GBP, AUD, YEN, GOLD, OIL, DXY]}(click to enlarge)

FX 062314

Equities:{WWM's New ALPHA Trader - DAILY charts [Dow30, SP500, Nasdaq100, Nikkei225, China, HKG40, Nifty50, ASX200]}(click to enlarge)

STOCKS 062314


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