Elliot Clarke, Research Analyst at Westpac, notes that China’s official PMIs continued to soften in October, the services index falling to its lowest level since August 2017, the manufacturing index to its weakest read since July 2016. Key Quotes “Somewhat surprisingly given its focus on smaller firms, the Caixin manufacturing survey was broadly unchanged.” “Most prominent in the PMI detail remains the downtrend in new export orders. For manufacturing, the NBS survey reports new export orders are currently 4.3ppts below average. This level was last seen in late-2015/early-2016, and before that mid-2012. Caixin similarly points to sub-par external demand.” “Domestic demand remains an offsetting positive for Chinese manufacturing. From the NBS survey, total new orders are currently only 2.8ppts below average compared to external orders’ -4.3ppts.” “The key risk for the period ahead is then that the softening of employment reported by the PMI’s spreads and weighs on consumer activity at an inopportune time.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/GBP Technical Analysis: Sharply down, knocking on 0.8800 FX Street 4 years Elliot Clarke, Research Analyst at Westpac, notes that China's official PMIs continued to soften in October, the services index falling to its lowest level since August 2017, the manufacturing index to its weakest read since July 2016. Key Quotes "Somewhat surprisingly given its focus on smaller firms, the Caixin manufacturing survey was broadly unchanged." "Most prominent in the PMI detail remains the downtrend in new export orders. For manufacturing, the NBS survey reports new export orders are currently 4.3ppts below average. This level was last seen in late-2015/early-2016, and before that mid-2012. Caixin similarly points to sub-par external demand." "Domestic… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
