At 0145GMT we get the Caixin Manufacturing PMI from China for December
- expected 50.2, prior 50.2
On Monday (Dec 31) we got the official PMI, which came in weak and dropped into contraction for the first time since July 2016.
- new orders fell
- new export orders fell
These are not bullish signs for future demand
- Both input and output prices weakened
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The background to the evident slow down is the US China trade war. US President Trump is bullish on these. We'll see.
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For the AUD, check out my comments earlier, here
