Global stock market turmoil might not be here to stay. Both China stocks and the yuan rallied after China PMIs show the economy is making a strong comeback. This round of data was very impressive. China’s February Manufacturing PMI rose to 52.6, the highest levels since April 2012, crushing the 50.6 estimate. Non-Manufacturing (Services) PMI impressed with a 56.3 reading, above the 54.9 consensus estimate.
Chinese stocks might get a boost as earnings season heats up, with many companies having improving outlooks. The Chinese yuan rallied to 6.9289 after the impressive PMI data.
Aussie
The Australia dollar initially tumbled to a two-month low after Q4 GDP unexpectedly slowed and prompted some traders to downgrade their half-point rate rise bets to only a quarter point rise for the March 7th meeting. The Aussie-dollar pared those losses after robust Chinese PMI data provided more optimism for improving demand from the their key trading partner.
Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only.
If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use.
Visit https://www.marketpulse.com/ to find out more about the beat of the global markets.
© 2025 OANDA Business Information & Services Inc.
