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Tuesday, July 1, 2014
China HSBC/Markit Manufacturing PMI for June: 50.7 (expected 50.8)
China HSBC/Markit Manufacturing PMI for June,
expected 50.8, prior was 49.4, flash reading for June was 50.8
Output rises for the first time since January
Stocks of finished goods decline at strongest rate since September 2011
Rate of job shedding eases
Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said:
“The HSBC China Manufacturing PMI final reading for June rebounded to 50.7, up from 49.4 in May, and relatively unchanged from the flash reading. This confirms the trend of stronger demand and faster destocking. The economy continues to show more signs of recovery, and this momentum will likely continue over the next few months, supported by stronger infrastructure investments. However there are still downside risks from a slowdown in the property market, which will continue to put pressure on growth in the second half of the year. We expect both fiscal and monetary policy to remain accommodative until the recovery is sustained.”