Loading…
The offshore yuan recovered on July 1 after a weak Caixin manufacturing PMI for June fell to 49.4, a five-month low. Analysts note mixed headlines on the US-China trade truce and that the USD/CNH pair is trading near 6.84.
A weak Chinese PMI signals softer industrial demand, which can weigh on feed and commodity imports, while the currency move is a short-term technical swing.
octaafrica.netJul 1, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
