Chinese manufacturing PMI index likely to have dropped in November

The Chinese manufacturing PMI for November is set to release this week. According to a DBS Bank research report, the manufacturing PMI is likely to have dropped to 50 in November from October’s 50.2. Industrial activities are likely to have eased further because of softening domestic demand.

New export orders’ index is likely to have stayed in contraction territory due to second round of tariffs imposed on Chinese exports by the U.S. Exports would be dampened should the U.S. impose tariff on all Chinese exports in January 2019.

At 14:00 GMT the FxWirePro's Hourly Strength Index of Chinese Yuan was neutral at -7.17847, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at 4.58141. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex