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CNY review

Quotes from RBC Capital Markets: -China: Flash manufacturing PMI increased to a four-month high of 50.1 (cons: 49.7). However, the new export orders sub-index fell from 50.1 to 47.1, the sharpest rate of contraction sinc…

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Quotes from RBC Capital Markets:

-China: Flash manufacturing PMI increased to a four-month high of 50.1 (cons: 49.7). However, the new export orders sub-index fell from 50.1 to 47.1, the sharpest rate of contraction since June 2013, signaling the need for further depreciation in CNY.

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