FXStreet (Barcelona) – According to Brown Brothers Harriman, PBoC’s recent easing was the correct response to soft Chinese economic data, and further easing might be seen in H2.
Key Quotes
“China reports official manufacturing PMI Wednesday, expected at 50.4 vs. 50.2 in May. We note that the HSBC flash June manufacturing PMI rose to 49.6 from 49.2 final in May. The stock market swoon is surely raising concerns. Regardless of the market gyrations, however, we thought that this latest round of stimulus was the right response to soft economic data. More stimulus is likely to be seen in H2.”
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