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☆ China PMI: Factories send mixed signals about the economy, pressing Beijing to do more
▼ + stars: | 2024-03-01 | by ( Laura He | ) edition.cnn.com time to read: +4 min

But the Caixin manufacturing PMI — which focuses on smaller, private companies — rose to 50.9 in February, up from 50.8 in January, according to S&P Global, which compiled the survey. The divergence in the output and new order sub-indexes is likely related to differences in geographic and sector coverage, as the Caixin PMI covers more southern regions, they said. “Overall, the manufacturing sector continued to improve in February,” said Wang Zhe, senior economist at Caixin Insight Group, in a statement that accompanied the Caixin PMI data. “Looking ahead, the focus should be on the effectiveness of the measures [announced previously by Beijing to boost growth],” Wang said. “Fiscal policy will lead the way,” HSBC analysts said Friday.

Persons: ” Goldman Sachs, ”, Wang Zhe, ” Wang, Xi Jinping, Lintao Zhang, “ Organizations: Hong Kong CNN, National Bureau of Statistics, P, National People’s Congress, PMI, Caixin Insight, “, of People, Communist Party’s Politburo, NPC, Xinhua, HSBC Locations: China, Hong Kong, Beijing, Southern China, Guangdong, Zheijang, ” China

☆ Morning Bid: Treasuries on cusp of best month since 2008
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +3 min

Let's start with Treasuries because, if this were sports, we'd be calling it a comeback for the ages. Now, with some encouraging hints from Fed officials, 10-year notes are poised to celebrate their best month since the 2008 global crash, with yields down 61 basis points for November so far. Yields on two-year paper are down 31 bps just this week, the steepest drop since the U.S. mini-banking crisis in March. The European Union has inflation data of its own later on Thursday and analysts suspect the risks are for a downside surprise following subdued readings from Germany and Spain. The dollar index looks set for its worst month since November last year, with a loss so far of 3.7%.

Persons: Kevin Lamarque, Wayne Cole, Let's, we'd, Governor Waller, dovishness, Powell, Williams, Lagarde, Greene, Governor Bunge, Edmund Klamann Organizations: U.S . Treasury, REUTERS, Fed New, European Union, China PMI, BoE Monetary, CPI, PPI, Chicago PMI, Thomson Locations: Washington , U.S, Wayne, U.S, Germany, Spain, China, BoE, EU, Chicago

☆ Morning Bid: Markets turn risk-averse after bumper month
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Staff Acquire Licensing RightsA look at the day ahead in European and global markets from Wayne Cole. Most regional share markets are modestly lower, as are Wall Street and European futures. Data on EU inflation is also due Thursday, along with measures for Germany and Spain. Core EU inflation is forecast at 3.9%, the lowest since the middle of last year. If realised, this will support market wagers of no more rate hikes, and policy easing in 2024.

Persons: Wayne Cole, Asia, hasn't, Brent, Jerome Powell, Christine Lagarde, Edmund Klamann Organizations: REUTERS, Staff, Treasury, China PMI, Japan's Nikkei, Federal, Core, Fed, ECB, European Central Bank, EU, Economic, Monetary Affairs, Parliament, CBI, Thomson Locations: Frankfurt, Germany, Wayne, China, Saudi Arabia, Spain

☆ Asia markets mixed ahead of Bank of Japan decision, China PMI
▼ + stars: | 2023-10-31 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

The Bank of Japan headquarters in Tokyo. Asia-Pacific markets were mixed ahead of a key monetary policy decision by the Bank of Japan, and fresh economic data points throughout the region. The Bank of Japan will conclude its two-day policy meeting later in the day, with investors watching for any signs of the central bank raising its inflation forecasts. It is also expected to discuss further adjustments to its bond yield control. Also on Tuesday, China purchasing manager's index data for October will likely show manufacturing grew at an expansionary pace of 50.2, according to economists polled by Reuters.

Organizations: Bank of Japan, Reuters Locations: Tokyo . Asia, Pacific, China

REUTERS/Kim Kyung-Hoon/File Photo Acquire Licensing RightsNov 1 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. But Asian markets' first chance to react to that will be Thursday. But if the yuan is under pressure, it is nothing compared to the onslaught Japan's yen is facing. The currency and bond market reactions to the BOJ's policy tweak could not have been more different - the yen fell the most since April, while Japanese bond yields surged to a fresh decade-high. World, U.S. and Asian stocks all fell for a third month in a row, bond yields surged and financial conditions tightened significantly.

Persons: Kim Kyung, Jamie McGeever, China's Organizations: National Printing Bureau, Bank of Japan, REUTERS, U.S . Federal, U.S, Treasury, PMI, Tuesday, China PMI, Indonesia CPI, Thomson, Reuters Locations: Tokyo, Japan, Asia, India, South Korea, Indonesia, Korean, Hong Kong, China

☆ China PMI: Factory activity unexpectedly contracts in October as demand drops
▼ + stars: | 2023-10-31 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China’s massive manufacturing sector has contracted once again amid weak demand, fueling calls for stronger policy support to boost growth. Fewer working days in October due to the Golden Week holiday, which spanned September 29 to October 6, affected the manufacturing PMI, according to the NBS. “The unexpected decline of manufacturing PMI shows the recovery in China is a bumpy road as domestic demand is still quite weak,” said Zhiwei Zhang, president and chief economist for Pinpoint Asset Management. The NBS survey showed that new factory orders declined in October from the previous month, pointing to a drop in demand. Overall, “the weak PMI reinforces the case for stronger fiscal policy support,” Zhang said.

Persons: ”, Zhiwei Zhang, ” Zhang, Xi Jinping, “, Zhaopeng Xing Organizations: Hong Kong CNN, National Bureau of Statistics, PMI, Nomura, Authorities, ANZ Research, Bank of Locations: Hong Kong, China, Beijing, Hangzhou, Liuzhou, Bank of China

People walk in front of the bank of Japan building in Tokyo, Japan, April 7, 2023. REUTERS/Androniki Christodoulou/ File photo Acquire Licensing RightsOct 31 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Will the BOJ spook markets on Halloween and the final trading day of the month by effectively tightening monetary policy further with another tweak to its 'yield curve control' policy? Inflation in Japan has finally taken off, and for the first time in decades, appears to be sticking well above 2%. Here are key developments that could provide more direction to markets on Tuesday:- Bank of Japan policy decision- China PMIs (October)- Japan unemployment, industrial production, retail sales (September)By Jamie McGeever;Our Standards: The Thomson Reuters Trust Principles.

Persons: Androniki, Jamie McGeever, Will, Government Bonds, China PMIs Organizations: REUTERS, Bank of, U.S . Federal, Bank of England, Nikkei, Japan, Government, PMI, Bank of Japan, Thomson, Reuters Locations: Japan, Tokyo, Hong Kong, Taiwan, China

☆ China PMI, bumper 'Golden Week' travel give glimmers of hope for economy
▼ + stars: | 2023-10-02 | by ( Laura He | ) edition.cnn.com time to read: +6 min

PMI data released by Caixin Media and S&P Global showed both manufacturing and services losing some momentum. “We see increasing evidence of a near-term growth stabilization,” Nomura analysts said in a research note on Saturday, thanks partly to the raft of policy measures unveiled since late July, they added. While domestic travel for the Golden Week holiday appears strong, Chinese consumers are leaving the mainland in fewer numbers. Preliminary statistics from ForwardKeys, a global travel data provider, last week showed that Chinese travel within Asia was down 33% on pre-pandemic levels. On the first day of the Golden Week holiday, the number of mainland Chinese tourists entering Hong Kong was still less than half of 2018’s level, the city’s government said over the weekend.

Persons: Hong Kong CNN —, Stringer, “, ” Nomura, Julie Kozack, Xu Jiayin, Xu Organizations: Hong Kong CNN, National Bureau, Statistics, PMI, Caixin Media, P Global, Getty, China State Railway Group, Ministry, Transport, Ministry of Culture, Tourism, NBS, ” Citi, International Monetary Fund, Bank, Golden, Evergrande Group Locations: Hong Kong, Nantong, China's Jiangsu, AFP, China, Hangzhou, China's, Zhejiang, Beijing, Asia

Oct 2 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. But Chinese purchasing managers index data over the weekend, which pointed to mixed levels of services and manufacturing activity last month, may put a dampener on that. Investors will be looking to start the fourth quarter on a positive note after a pretty awful third quarter. Monday's batch of PMI reports include the latest snapshots from Australia, Japan and Indonesia, while Japan's closely watched 'tankan' survey of business sentiment and activity will also be released. Meanwhile, the Reserve Bank of Australia, Reserve Bank of New Zealand and Reserve Bank of India are all expected to keep their key interest rates on hold at 4.10%, 5.5% and 6.5%, respectively.

Persons: Jamie McGeever, Japan's, Richard Chang Organizations: U.S . Congress, PMI, Golden, Monetary, Reserve Bank of Australia, Reserve Bank of New, Reserve Bank of, Bank of Japan, Thomson, Reuters Locations: Beijing, Australia, Japan, Indonesia, India, New Zealand, South Korea, Philippines, Thailand, Taiwan, Reserve Bank of New Zealand, Reserve Bank of India

☆ Oil prices up on tighter supply, China PMI in focus
▼ + stars: | 2023-08-31 | by ( Katya Golubkova | ) www.reuters.com time to read: +2 min

REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsTOKYO, Aug 31 (Reuters) - Global oil prices were up in early trade on Thursday backed by tighter U.S. supply, with a focus on China factory activity due later in the day amid recent weak economic expansion data in the world's second-biggest economy. U.S. West Texas Intermediate crude futures gained 10 cents, or 0.13%, to $81.74. Prices are on the rise this week, with U.S. government data showing tighter-than-expected crude supplies and a military coup in Gabon, an OPEC member, raising fears of crude oil supply disruptions providing additional support on Wednesday. "Bad news was good, as weaker U.S. economic data lowered expectations of another rate hike," ANZ Research said in a note. Higher interest rate reduce demand and pressure oil prices down.

Persons: Lucy Nicholson, Katya Golubkova, Stephen Coates Organizations: REUTERS, Rights, Brent, . West Texas, U.S, Analysts, OPEC, Organization of, Petroleum, Federal, Boston Fed, ANZ Research, Thomson Locations: Bakersfield , California, China, Gabon, Saudi Arabia, Russia, The U.S

☆ Euro jumps on inflation while dollar braces for jobs
▼ + stars: | 2023-08-31 | by ( ) www.cnbc.com time to read: +3 min

The lettering Euro can be seen on a 1 euro coin, taken on 10 August 2023, in Baden-Württemberg, Rottweil. The euro stood at a 15-year high on the yen on Thursday on signs of sticky inflation in Europe, while the dollar was squeezed ahead of consumption, inflation and jobs data that could add to evidence of a softening economy. Annual inflation in Germany and Spain barely slowed in August, against expectations, data on Wednesday showed. Europe-wide inflation data is also due later on Thursday, as is U.S. personal consumption data and core PCE — which is the Federal Reserve's favored inflation gauge. It has been steadying with traders wary of the risk of official intervention, and was last at 146.07 per dollar.

Persons: Sterling Organizations: Traders, China PMI, Federal, Commerce Department, ANZ Bank ., New Zealand, Aussie Locations: Baden, Europe, Germany, Spain, Asia, China, Australia, New Zealand, Japan, United States

☆ China PMI: Factory activity contracts for fifth straight month. Demand for services is also slowing
▼ + stars: | 2023-08-31 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Factory activity in China contracted for a fifth straight month in August, adding pressure on Beijing to roll out more stimulus measures to bolster the faltering economy. It was the third straight month that the index had improved from the previous month, and was better than economists were expecting. The non-manufacturing PMI, which measures business activity in services and construction, stood at 51 this month, down from 51.5 in July, according to the NBS. “The PMI surveys suggest a slight improvement in economic activity in August,” wrote analysts from Capital Economics. Some of these moves may have started to bear fruit this month, analysts said.

Persons: ”, Si Wei, Robert Carnell Organizations: Hong Kong CNN — Factory, government’s National Bureau of Statistics, PMI, NBS, Capital Economics, ING Group, Capital Locations: Hong Kong, China, Beijing, —, Lianyungang, Jiangsu province, Asia, Pacific

Aug 31 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. India's second quarter GDP, Japanese retail sales and industrial production, Hong Kong retail sales, Australian credit and South Korean industrial production are on tap too, potentially moving these countries' markets, especially their currencies. Markets across the region should open on a positive note on Thursday after another 'risk on' day Wednesday. With a lower dollar and softer U.S. Treasury yields helping to ease financial conditions, world stocks rose for a fourth day. But it has been a tough month for Asia, in large part due to the financial and economic troubles afflicting China.

Persons: Jamie McGeever, Downwardly, China PMIs, Josie Kao Organizations: Investors, Treasury, China's, PMI, outflows, Thomson, Reuters Locations: Hong Kong, Asia, China, Japan, Beijing, India

World shares (.MIWD00000PUS) were up 0.3% in European trading. European stocks, led by technology shares and China-exposed automakers, also rose. But the uncomfortable message from Jackson Hole may mean a protracted higher inflation than market bulls might have hoped, said the note. Figures on European Union inflation this week may also be instrumental in whether the European Central Bank (ECB) decides to hike next month. Oil prices drew some support from the storm developing in the Gulf of Mexico and China support.

Persons: Issei Kato, Florian Ielpo, Jerome Powell, Lombard, Ielpo, Jackson, Christine Lagarde, Ben Broadbent, Kazuo Ueda, Brent, Nell Mackenzie, Amanda Cooper, Stephen Coates, Hugh Lawson Organizations: Nikkei, U.S, REUTERS, Companies, payrolls, China PMI, China, Nasdaq, FTSE, China Evergrande, HK, Hong Kong Stock Exchange, Shanghai, Lombard, Traders, Federal, Fed, JPMorgan, European Central Bank, Bank of England, Bank of Japan, Thomson Locations: Tokyo, Japan, China, Beijing, Generali, Hollywood, Friday's, Gulf of Mexico

☆ Asia shares rally as China measures boost market
▼ + stars: | 2023-08-28 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) climbed 1.4%, having eked out minor gains last week to break a three-week losing streak. The improvement in risk sentiment saw EUROSTOXX 50 futures add 0.7%, while FTSE futures were closed for a holiday. S&P 500 futures and Nasdaq futures both edged up 0.1%, extending last week's modest rise. "We take this to mean that the FOMC does not intend to hike at the September meeting," wrote analysts at Goldman Sachs. Oil prices drew some support from a sharp rise in U.S. diesel prices, though concerns about Chinese demand remains a drag.

Persons: Issei Kato, Federal Reserve Jerome Powell, Goldman Sachs, Christine Lagarde, Ben Broadbent, Kazuo Ueda, Brent, Wayne Cole, Shri Navaratnam, Stephen Coates Organizations: Nikkei, U.S, REUTERS, payrolls, China PMI, China, Sunday, Investors, PMI, Nomura, Japan's Nikkei, Nasdaq, Federal Reserve, JPMorgan, European Central Bank, Bank of England, Bank of Japan, Thomson Locations: Tokyo, Japan, China, SYDNEY, Beijing, Asia, Pacific, Hollywood, Friday's, U.S

☆ Morning Bid: Markets brace for BOE as China PMI cheers
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

The BOE is leaning toward a 25 basis point hike after the inflation gods took some pity on the UK last month. Investors and economists will be sure to inspect the BOE's growth and inflation forecasts for indications of just how sticky the central bank thinks inflation has become. Not to be overshadowed by monetary policy, earnings reports roar back into focus on Thursday with Apple (AAPL.O) at the forefront. China kicks off a long line of PMI releases today with better-than-expected services activity, giving markets a bit of good news after disappointing data on Monday. In Japan, the stock market continued to feel the drag from U.S. chip firms on Thursday morning, with the Nikkei (.N225) seeing broad-based losses.

Persons: Hollie Adams, Brigid Riley, BOE, Jerome Powell isn't, hasn't, Stryker, Fed's Barkin, Jacqueline Wong Organizations: Bank of England, City of, REUTERS, Bank of, CPI, Reuters Graphics, ECB, Apple, Moderna, PMI, HK, Nikkei, Royce, Infineon, Adidas AG, BMW, Fed's, Thomson Locations: City, City of London, Britain, United States, China, Japan, U.S, Expedia, France, Italy, Sweden, Spain, Germany, Euro

☆ Morning Bid: August cools Wall St stocks
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +4 min

China's factory underperformance stood out once again and underlined its struggling recovery - perhaps the main driver of stalling industrial activity everywhere. With markets increasingly impatient at the patchy and underwhelming economic stimulus plans seen from Beijing so far, China stocks fell back (.CSI300), bucking Tuesday's wider Asia stocks rally. Sterling and UK stocks (.FTMC) fell back. Ride-hailing giant Uber's stock rose more than 2% before the bell and ahead of its earnings report. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, underperformance, Austan Goolsbee, Goolbee, Stanley Black, Decker, Zimmer Biomet, Revvity, Bernadette Baum Organizations: Federal Reserve, U.S ., Chicago Fed, Bank of England, Sterling, AMD, Caterpillar, Big Pharma, Pfizer, Merck, Ride, HSBC, BP, Uber, Prudential Financial, AIG, Starbucks, Molson Coors, Boston Properties, Caesars Entertainment, Illinois Tool, Natural Resources, Energy, Devon Energy, Gartner, Allstate, Paycom Software, Electronic, WEC, Rockwell, Public Service Enterprise, P Global, Dallas Fed, Chicago Federal, Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, Wall, Beijing, China, Asia, ., Marathon, Eaton, Altria, Marriott, Illinois, Progressive

☆ Rupee hopeful of recovery on back of uptick on Asia FX
▼ + stars: | 2023-07-31 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, July 31 (Reuters) - The Indian rupee will be looking to recover on Monday, tracking the move higher in Asian peers on better-than-expected China data. Non-deliverable forwards indicate the rupee will inch up to the U.S. dollar at open from 82.2475 in the previous session. With Asian currencies doing well to begin the week and risk holding up, the rupee "will be hoping for a mini recovery", a forex trader at a bank said. The data comes after Federal Reserve Chair Jerome Powell left the door open for a rate hike at the September meeting. Data out on Friday supported investor expectations that the Fed rate hike cycle is over.

Persons: Kunal Kurani, Jerome Powell, Nimesh Vora, Sonia Cheema Organizations: U.S, Mecklai, China PMI, People's Bank of, Reuters, Brent, Thomson Locations: MUMBAI, China, U.S, People's Bank of China

☆ China PMI: factory sector contracts for fourth straight month, raising urgency for more stimulus
▼ + stars: | 2023-07-31 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China is preparing to announce new stimulus for its stumbling economy after the vast factory sector contracted for a fourth straight month, and a gauge of activity in its services sector slipped to a seven month low. The official manufacturing Purchasing Managers’ Index (PMI), which measures activity level in the manufacturing sector, came in at 49.3 in July, according to data released by the National Bureau of Statistics on Monday. That result was slightly up compared with 49 in June but the index has nonetheless contracted each month since April. The official non-manufacturing PMI, which looks at activities in the services and construction industries, fell to 51.5 from 53.2 in June. “China’s official PMI data provides little encouragement that the economy is turning the corner,” said Robert Carnell, regional head of research for Asia-Pacific at ING Group.

Persons: Stringer, “, ”, Robert Carnell, Xi Jinping, Carnell Organizations: Hong Kong CNN, National Bureau, Statistics, PMI, Getty, ING Group, National Development, Reform Commission, Ministry of Industry, Information Technology, State, Information, Ministry of Commerce, Capital Economics Locations: Hong Kong, China, Beijing, Hangzhou, China's, Zhejiang, AFP, Asia, Pacific

☆ Morning Bid: Will August retain July's heat?
▼ + stars: | 2023-07-31 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

August 1 (Reuters) - A look at the day ahead in Asian markets from Stephen Culp, financial markets journalist. Asian stocks have closed the books on a July that ran fairly hot, and not just with respect to temperatures. On Tuesday, Australia's central bank is expected to follow in the footsteps of its global peers by hiking its policy rate by 25 basis points. Both reports should provide further clarity on the effects of the Federal Reserve's restrictive monetary policy on the world's largest economy. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Stephen Culp, Wall, Deepa Babington Organizations: CSI, Asia Pacific, Nikkei, China PMI, Bank of Japan's, Caterpillar, Institute for Supply, Labor, Reserve Bank of, Global, PMI, Thomson, Reuters Locations: Japan, China, Australia's, United States, India, Korea

☆ Here are Thursday's biggest analyst calls: Tesla, Spotify, Netflix, Chevron, Carvana, Coinbase & more
▼ + stars: | 2023-07-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Thursday's biggest calls on Wall Street: TD Cowen upgrades Meta to outperform from market perform TD Cowen said it sees further share gains ahead for Meta. TD Cowen reiterates Amazon as outperform TD said it's bullish heading into Amazon earnings later this month. Deutsche Bank reiterates Microsoft as buy Deutsche said the stock is "set up nicely" heading into earnings later this month. " Bank of America reiterates Tesla as neutral Bank of America said it's standing by its neutral rating heading into earnings next week. BMO reiterates Chevron as outperform BMO said in a note on Thursday that it likes the oil and gas giant's capital return.

Persons: Cowen, TD Cowen, it's, Stifel, Coinbase, JPMorgan downgrades, Morgan Stanley, Cboe, Morgan Stanley downgrades SoFi, Tesla, Domino's, Robert Iger, Oppenheimer Organizations: Meta, Energy Fuels, Clean Energy Fuels Corp, Barclays, JPMorgan, Spotify, Deutsche Bank, Microsoft, Deutsche, BMO, Netflix, " Bank of America, of America, Suisse, Credit Suisse, Bank of America, Disney, ESPN, Chevron Locations: China

July 5 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Traders will also have Japanese, Australian and Indian services PMIs to digest, as well as the latest inflation data from Thailand and the Philippines, and can expect trading volume to return to more normal levels after the July 4 U.S. holiday. Service sector activity, however, has held up reasonably well and has expanded every month this year, according to the PMI data. This comes ahead of a planned visit to Beijing by U.S. Treasury Secretary Janet Yellen this week. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jamie McGeever, Janet Yellen, Alistair Bell Organizations: Service, PMI, U.S, Treasury, Reserve Bank of Australia, PMIs, Thomson, Reuters Locations: U.S, Thailand, Philippines, Beijing, Tokyo, Japan, China, India, Australia

July 3 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Purchasing managers index (PMI) reports on Monday from across the Asia-Pacific region, including China, India, South Korea and Australia, will give the first glimpse into private sector services and factory activity in June. Monday's Asian economic calendar is dominated by a raft of manufacturing PMIs including China's, Indonesian inflation, Japan's 'tankan' business sentiment survey for the second quarter, and Australian housing. China's Caixin manufacturing PMI is expected to fall to 50.2 from 50.9, signaling a slowdown in factory sector growth almost the point of stagnation. The official PMI, expected to show a third month of contraction, will be released on Friday.

Persons: Jamie McGeever, Josie Kao Organizations: Japan's Nikkei, U.S, PMI, Equity, Indonesia CPI, Thomson, Reuters Locations: Asia, Japan, Pacific, China, India, South Korea, Australia, Indonesia, Thailand, Philippines, Taiwan, Malaysia

☆ Yen weakens past key 145 per dollar level; yuan falls after China PMI data
▼ + stars: | 2023-06-30 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

SINGAPORE, June 30 (Reuters) - The yen weakened past 145 per dollar on Friday, a level which kept speculators wary of potential intervention from Japanese authorities, while a faltering economic recovery in China also kept pressure on the yuan. Its renewed decline has stoked speculation that intervention by Japanese authorities could be imminent, particularly as the level of 145 per dollar first prompted them to shore up the yen in September. The onshore yuan fell to its lowest since November at 7.2615 per dollar shortly after trading opened on Friday. The Australian dollar , often used as a liquid proxy for the yuan, slipped 0.12% to $0.6608. The dollar index steadied at around 103.33 and was heading for a gain of about 0.7% in the second quarter.

Persons: Saktiandi Supaat, Maybank's Supaat, Carol Kong, Sterling, Elwin de Groot, Rae Wee Organizations: Bank of Japan's, People's Bank of China, New Zealand, U.S, U.S . Federal Reserve, Commerce Department, Commonwealth Bank of Australia, Bank of England, Central Bank, Rabobank, Thomson Locations: SINGAPORE, China, Asia, Tokyo, U.S

☆ Yen weakens past key 145 per dollar level as yuan falls after China PMI data
▼ + stars: | 2023-06-30 | by ( ) www.cnbc.com time to read: +3 min

The yen weakened past 145 per dollar on Friday, a level which kept speculators wary of potential intervention from Japanese authorities, while a faltering economic recovery in China also kept pressure on the yuan. Its renewed decline has stoked speculation that intervention by Japanese authorities could be imminent, particularly as the level of 145 per dollar first prompted them to shore up the yen in September. The onshore yuan fell to its lowest since November at 7.2615 per dollar shortly after trading opened on Friday. The Australian dollar , often used as a liquid proxy for the yuan, slipped 0.12% to $0.6608. The dollar index steadied at around 103.33 and was heading for a gain of about 0.7% in the second quarter.

Persons: Saktiandi Supaat, Maybank's Supaat, Carol Kong, Sterling, Elwin de Groot Organizations: Bank of Japan's, People's Bank of China, New Zealand, U.S, U.S . Federal Reserve, Commerce Department, Commonwealth Bank of Australia, Bank of England, Central Bank, Rabobank Locations: China, Asia, Tokyo, U.S

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