bearish
China News Headline Not Discounted
SUMMARY
- The People's Bank of China (PBOC) has been draining liquidity through reverse repo while the Chinese Yuan (CNY) fixing has been notably stronger than anticipated.
- It could be attributed to various factors, such as: A significant drop in the manufacturing Purchasing Managers' Index (PMI)
- Weaker PMI sub-indices, including export orders and employment
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