CNY News

China's industrial profits grew markedly in August from a year ago, data from the National Bureau of Statistics showed Tuesday.

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China's exports declined more than expected in September reflecting subdued global demand, data from the General Administration of Customs revealed Thursday. Exports dropped notably by 10 percent in September from prior year, much bigger than the expected fall of 3.3 percent. Shipment had declined 2.8 percent in August.

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Consumer prices in China were up 1.9 percent on year in September, the National Bureau of Statistics said on Friday.

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The US Dollar keeps printing fresh record highs versus the Chinese Yuan in offshore trade, as the pair now sits within touching distance from what might prove to be an important resistance level at the 6.8 handle.

The pair surged higher after breaking resistance around the 6.7 handle followed by the 2016 January high around 6.7584.
Indeed, momentum still looks strong as we head into today’s key US 3Q GDP numbers, which could prove influential for the pair’s direction in the near term.

As it were, price is now sitting in close proximity to the 6.8 handle, and a break higher seems an important milestone for further gains.

If the pair reverses course, downside moves might still be interpreted as corrective as long as buyers can keep price above the 6.7 level.

The next major resistance levels seem to be the 6.8 handle, and 6.8500 while potential levels of support could be 6.7584 followed by the area below 6.7400 and the 6.7 handle.

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China's manufacturing sector growth improved strongly at the start of the fourth quarter as output expanded at the fastest rate in over five-and-a-half years in October. The seasonally adjusted Caixin factory Purchasing Managers' Index rose to 51.2 in October from 50.1 in September, survey data from IHS Markit showed Tuesday. The score was expected to remain at 50.1.

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The services sector in China continued to expand in October, and at a faster rate, the latest survey from Caixin revealed on Thursday with a PMI score of 52.4.

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China's exports and imports declined at a faster-than-expected pace in October, figures from the General Administration of Customs showed Monday.

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The manufacturing sector in China continued to expand in November, although at a slower rate, the latest survey from Caixin showed on Thursday with a PMI score of 50.9.

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China's manufacturing activity expanded at its quickest pace in nearly four years in December, an independent research firm said on Tuesday, in a sign of improving health for the world's second-largest economy.

The private Caixin Purchasing Managers' Index (PMI), an indicator of conditions at smaller manufacturers, beat expectations with a reading of 51.9 in December, up from 50.9 the previous month.

A PMI figure above 50 marks an expansion of activity, and below 50 a contraction.

It was the survey's highest score since January 2013, the Chinese financial magazine said in a joint statement with data compiler IHS Markit.

"The Chinese manufacturing economy continued to improve in December, with the majority of sub-indices looking optimistic," Caixin analyst Zhong Zhengsheng said in the statement.

December's reading was boosted by stronger demand and an increase in new clients for Chinese manufacturers, which pumped output growth to a 71-month high, it said.

On Sunday, the official purchasing managers' index (PMI), which focuses on larger factories and mines, came in at 51.4 in December, down from 51.7 the previous month, which marked its fastest growth for two years.

But stabilisation of the country's economy faces further risks ahead with Donald Trump's administration threatening to slap China with heavy tariffs.

Analyst Zhong noted that uncertainties about the sustainability of rising consumer prices and restocking also weigh on the outlook for factories.

China's key manufacturing sector has been struggling in the face of sagging world demand for Chinese products and excess industrial capacity left over from the country's infrastructure boom.

But an upturn in the housing and construction markets thanks to cheap credit -- following a series of monetary easing measures -- has contributed to a sharp rebound in manufacturing activity.

(Booklet printing, printing in China).

The services index in China continued to expand in December, and at an accelerated pace, the latest survey from Caixin showed on Thursday with a PMI score of 53.4.

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