{"id":46047,"date":"2023-05-31T05:45:00","date_gmt":"2023-05-31T04:45:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=46047"},"modified":"2023-05-31T12:41:10","modified_gmt":"2023-05-31T11:41:10","slug":"morning-brief-weak-chinese-data","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/morning-brief-weak-chinese-data\/","title":{"rendered":"Morning Brief &#8211; Weak Chinese data"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"46047\" class=\"elementor elementor-46047\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-daac1b5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"daac1b5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-56d5e8d\" data-id=\"56d5e8d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2938df4 elementor-widget elementor-widget-text-editor\" data-id=\"2938df4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The key focal point of the session was the China data, the official PMIs for May. Both the Manufacturing and non-Manufacturing PMIs fell from April, with Manufacturing slipping further into contraction.<\/p><p>Risk assets took a hit on the China results. Stocks fell and <a href=\"https:\/\/bit.ly\/2YAQOVh\" target=\"_blank\" rel=\"noopener\">EUR<\/a>, <a href=\"https:\/\/bit.ly\/2Zn4HaM\" target=\"_blank\" rel=\"noopener\">GBP<\/a>, <a href=\"https:\/\/bit.ly\/2yFD0hu\" target=\"_blank\" rel=\"noopener\">AUD<\/a>, <a href=\"https:\/\/bit.ly\/2KflF5J\" target=\"_blank\" rel=\"noopener\">NZD<\/a>, <a href=\"https:\/\/bit.ly\/334hUb4\" target=\"_blank\" rel=\"noopener\">CAD<\/a> are all lower against the <a href=\"https:\/\/bit.ly\/400zg4T\" target=\"_blank\" rel=\"noopener\">US dollar<\/a> as the market starts to fear and economic downturn.<\/p><p>The official manufacturing purchasing managers\u2019 index (PMI) fell to 48.8 in May, down from\u00a0<a href=\"https:\/\/www.scmp.com\/economy\/china-economy\/article\/3218898\/china-manufacturing-pmi-hits-lowest-level-post-covid-reopening-official-data-shows?module=inline&amp;pgtype=article\">49.2 in April,<\/a>\u00a0according to the National Bureau of Statistics, reaching its lowest level in five months. The 50-mark separates growth from contraction on a monthly basis.<\/p><p>The official non-manufacturing PMI, which measures business sentiment in the services and construction sectors, fell to 54.5 in May from 56.4 in April, expanding at the slowest pace in four months.<\/p><p>Large enterprises (many state-owned and supported) fared better than mid-size and small, coming in at 50.0, 47.6 and 47.9, respectively. China\u2019s National Bureau of Statistics issued a statement following the data calling for measures to strengthen the foundation for recovery and development.<\/p><p>We also saw Australia CPI released earlier today as CPI continues to exceed market expectations, rising in April 2023. Still, it failed to still the further fall in the Australian dollar.<\/p><p>New data from the Australian Bureau of Statistics (ABS) showed that on an annual basis inflation rose to 6.8 per cent, up from 6.3 per cent the month prior.<\/p><p>This month&#8217;s annual increase of 6.8 per cent is higher than the 6.3 per cent annual rise reported in March 2023, but is below the high of 8.4 per cent recorded in December 2022.<\/p><p>Reserve Bank of Australia Governor Lowe also testified earlier today, and he noted that \u201cI want to reassure you we&#8217;re serious,&#8221; and &#8220;The risk to inflation is to the upside and we need to be attentive to that.&#8221;<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The key focal point of the session was the China data, the official PMIs for May. Both the Manufacturing and non-Manufacturing PMIs fell from April, with Manufacturing slipping further into contraction. Risk assets took a hit on the China results. Stocks fell and EUR, GBP, AUD, NZD, CAD are all lower against the US dollar [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":46049,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[380,536,316,67],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Morning Brief - Weak Chinese data - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/morning-brief-weak-chinese-data\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morning Brief - Weak Chinese data Morning Brief - Weak Chinese data\" \/>\n<meta property=\"og:description\" content=\"The key focal point of the session was the China data, the official PMIs for May. Both the Manufacturing and non-Manufacturing PMIs fell from April, with Manufacturing slipping further into contraction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/morning-brief-weak-chinese-data\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-31T04:45:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-31T11:41:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/05\/GettyImages-641812964.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"724\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Morning Brief - Weak Chinese data Morning Brief - Weak Chinese data\" \/>\n<meta name=\"twitter:description\" content=\"The key focal point of the session was the China data, the official PMIs for May. 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