China March PMIs. Manufacturing 49.5 (expected 49.9) & Services 48.4 (expected 53.2)

China March PMIs

Manufacturing 49.5

• expected 49.9, prior 50.2

Non-manufacturing 48.4

• expected 53.2, prior 51.6

Composite 48.8

• prior 51.2

I posted earlier today on that 'expected' for services. Given the manufacturing PMI had been marked down on the surge in COVID-19 Covid-19 Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Read this Term cases in China in March it didn't make sense to me that services was still expected strongly in expansion. And here we are. Yeah.

Anyway, boht manufacturing and services now dipping into contraction. Translates into contraction for the composite also. Let's see what April brings for COVID-19 in China, but its difficult to see much improvement. Could be wrong.

Currency impact of the data is minor. EUR/USD, for example, a touch lower:

AUD/USD also off a few ticks only