China's manufacturers cut production at the fastest rate since 2011

wrapper

News
Analysis
- Fundamental
  
  Daily fundamental analysis
  
  Weekly fundamental analysis
- Technical
  
  Daily technical analysis
  
  Weekly technical analysis
Charts
Basic terms
Education
Calendar
Contact

Monday, Aug 03 2015

China's Final Manufacturing PMI posted at 47.8 in July, missing forecasts on a reading of 48.3. This was down from 49.4 in June and below the neutral 50.0 mark for the fifth successive month. Furthermore, the latest index reading signalled the sharpest deterioration in the health of the sector since July 2013. Renewed falls in both total new work and new export orders led manufacturers to cut production at the fastest rate since November 2011.

Softer client demand and reduced output requirements contributed to further job shedding and lower purchasing activity, with the latter declining at the sharpest rate since January 2012. Meanwhile, deflationary pressures persisted, with both input costs and output charges declining in July and at faster rates than in the previous month.

However, data was of no major impact on Aussie which is currently being traded few points below 0.73 handle. Pair is likely to find support around 0.7250 level and resistance above 0.7350 area. In the US session. ISM Manufacturing PMI figures are scheduled for a release.

More in this category: « Job ads fell by 0.4%, ANZ's survey showed Euro little changed after PMI figures »

Latest from Editor

Popular

UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most…
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures…
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports…
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Menu

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.