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4 May 2015
Key events ahead in China – BBH
FXStreet (Barcelona) - The Brown Brothers Harriman Team previews the key data releases ahead in China, and further comments on easing expectations from the PBoC.
Key Quotes
“HSBC reports China April services and composite PMI Wednesday. HSBC final manufacturing PMI was softer than expected at 48.9 vs. 49.2 flash and 49.6 final in March.”
“The trend of a softening Chinese economy seems well priced is, as are the prospects of more stimulus measures.”
“We do not believe policymakers are embarking on a weak yuan policy. Indeed, PBOC fixed USD/CNY last week at the lowest level since December 17.”
“China reports April trade data Friday, with exports seen up 2.6% y/y and imports seen down -10.3% y/y."
"On Saturday Asia time, China reports April CPI and PPI, with the former seen up 1.6% y/y and the latter seen down -4.5% y/y.”
Key Quotes
“HSBC reports China April services and composite PMI Wednesday. HSBC final manufacturing PMI was softer than expected at 48.9 vs. 49.2 flash and 49.6 final in March.”
“The trend of a softening Chinese economy seems well priced is, as are the prospects of more stimulus measures.”
“We do not believe policymakers are embarking on a weak yuan policy. Indeed, PBOC fixed USD/CNY last week at the lowest level since December 17.”
“China reports April trade data Friday, with exports seen up 2.6% y/y and imports seen down -10.3% y/y."
"On Saturday Asia time, China reports April CPI and PPI, with the former seen up 1.6% y/y and the latter seen down -4.5% y/y.”