23 Jul 2014
July China Manufacturing PMI expected to remain in expansion territory - ING
FXStreet (Łódź) - Tim Condon from ING reminds that China's HSBC/Markit flash manufacturing PMI grew above 50 in June and suggests that the indicator should continue expanding in July.
Key quotes
"The rise in interbank rates at the end of the second quarter looked normal but they haven’t retraced, which, in light of the above-expected money and credit data for June released last week makes us think the PBoC is sending a message."
"The 7-day repo rate, which fluctuated (widely) around 3.2% from mid-February to mid-June, averaged 3.7% so far this month."
"Restraining excessive M2 growth would ultimately prove more market friendly than allowing it to persist."
Key quotes
"The rise in interbank rates at the end of the second quarter looked normal but they haven’t retraced, which, in light of the above-expected money and credit data for June released last week makes us think the PBoC is sending a message."
"The 7-day repo rate, which fluctuated (widely) around 3.2% from mid-February to mid-June, averaged 3.7% so far this month."
"Restraining excessive M2 growth would ultimately prove more market friendly than allowing it to persist."