USD/CNY Down Near 6.1550 after PMI

The Yuan retreated from an early high against the U. S dollar as HSBC/Markit revised down their final manufacturing PMI for China suggesting contraction at a faster than initially estimated rate.

China’s manufacturing sector continued to contract in April, the latest survey from HSBC and Markit Economics revealed – with a final purchasing managers’ index score of 48.1.

That was down from last month’s flash estimate of 48.3, although it was up from the final March reading of 48.0.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.