23 Jan 2014
Flash: China HSBC PMI deviation of +/-0.2ppt should move AUD - Westpac
FXstreet.com (Bali) - Most attention in Asia will be placed on the ‘flash’ Jan reading on China’s manufacturing PMI from HSBC/Markit at 1.45GMT, notes Sean Callow, FX Strategist at Wetpac.
Key Quotes
"This series was below 50 as recently as July 2013 but its recovery since then has extended no further than 50.9 in Oct. The Dec final reading was a muted 50.5."
"Expectations are fairly downbeat at 50.3, consistent with our China data pulse index which is a soft 35%. Any deviation from consensus of perhaps +/-0.2ppt should move AUD, NZD and Asian currencies. Also worth noting are S Korea’s Q4 GDP, Singapore’s Dec CPI and Taiwan Dec IP."
Key Quotes
"This series was below 50 as recently as July 2013 but its recovery since then has extended no further than 50.9 in Oct. The Dec final reading was a muted 50.5."
"Expectations are fairly downbeat at 50.3, consistent with our China data pulse index which is a soft 35%. Any deviation from consensus of perhaps +/-0.2ppt should move AUD, NZD and Asian currencies. Also worth noting are S Korea’s Q4 GDP, Singapore’s Dec CPI and Taiwan Dec IP."