OctaFX | OctaFX Forex Broker
Open trading account

China: PMI to plunge – Standard Chartered

China will release manufacturing PMI numbers on 29 February. A big drop is expected by economists at Standard Chartered Bank. USD/CNY is being exchanged at 7.031. 

Key quotes

“We expect the official manufacturing PMI to plunge to 36 in February from 50 last month, reflecting the impact of the coronavirus outbreak.”

“While newly confirmed cases have shown a downtrend since the beginning of February and restrictions on transport have been eased in some cities, we think disruption to production activity within the survey period will result in the official index reaching a historical low.” 

“We expect the non-manufacturing PMI to drop to 44 in February from 54.1 prior, entering contractionary territory for the first time on record, as the retail, catering and accommodation, transportation and real-estate sectors have been hit hard by the outbreak.”


Taiwan: IP growth likely entered negative territory – Standard Chartered

Taiwan is scheduled to release January industrial production (IP) and unemployment data on 24 February, while the release of the Monitoring Indicators
Read more Previous

AUD/USD: Mildly bearish – ANZ

The AUD has fallen to a multi-year low, as growth differentials and concerns over the global growth outlook weigh. Analysts at ANZ Research share thei
Read more Next
Start livechat