# USD/CNH: On the road to recovery as China PMI data derail trade truce backed slump — Octa

> 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.

- Date: 2019-07-01 · published 2019-07-01T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/58333-usd-cnh-on-the-road-to-recovery-as-china-pmi-data-derail-trade-truce-backed
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

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.

## Read by commodity

- USDCNY: neutral

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/719712/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.