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China Manufacturing PMI rose to 49.7

Monday, Feb 02 2015
The HSBC China Manufacturing PMI rose to 49.7 in the final reading for January, from 49.6 in December, and revised down from the flash reading of 49.8. Analysts were anticipating no change. Both new orders and new export orders saw downward revisions, but still signalled marginal expansion. 
 
Commenting on the China Manufacturing PMI™ survey, Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: "We think demand in the manufacturing sector remains weak and more aggressive monetary and fiscal easing measures will be needed to prevent another sharp slowdown in growth."
 
After the data Aussie initially went down but managed to rebound and is currently bring traded few points above 0.7780 level. Later today, in the US session Manufacturing PMI figures are scheduled for a release. 
More in this category: « USD - Major events in the week ahead Spanish Manufacturing PMI up more than expected »

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