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On May 5, analysts at the financial website Forexlive said: This week will be a week with light economic events, which is usually the case after the release of the US non-farm payroll change data. On Monday, the US will release the ISM service industry PMI and on Tuesday the trade account, which usually do not attract much attention, but given the current tensions related to tariffs, it is worth paying attention to.Germanys DAX30 index opened up 55.66 points, or 0.24%, at 23,113.00 points on May 5 (Monday); Frances CAC40 index opened down 28.63 points, or 0.37%, at 7,741.85 points on May 5 (Monday); Europes STOXX 50 index opened down 16.84 points, or 0.32%, at 5,268.3 points on May 5 (Monday); Spains IBEX35 index opened up 65.30 points, or 0.49%, at 13,487.00 points on May 5 (Monday); Italys FTSE MIB index opened down 151.94 points, or 0.4%, at 38,176.00 points on May 5 (Monday).Rwandan Foreign Minister: Rwandas negotiations with the United States on accepting immigrants deported by the United States are in the "early stages".UBS Group: Global oil demand is expected to see further seasonal growth in the coming months as the US driving season arrives and temperatures rise in the United States and the Middle East.May 5th news, on May 5th, the report released by CRIC Real Estate Research Center showed that the property market stopped falling and stabilized in the first quarter of 2025. Comparing the total transaction volume of new and second-hand houses in 30 typical cities in the first quarter of previous years, it can be seen that the first quarter of 2025 is basically at the median level in the past six years. In the first quarter of 2025, the transaction area of first-hand and second-hand houses reached 82.04 million square meters, a year-on-year increase of 17%. At the new home level, thanks to the continued fermentation of the favorable new policies in the core first-tier cities, the transaction area of commercial housing in 115 key cities in the first quarter was 51.31 million square meters, the same as last year. From the monthly trend, since February 2024, the year-on-year decline in new home transactions has continued to narrow. By March 2025, the monthly new home transaction volume was the same as in 2024, and the signs of stopping the decline and stabilizing have begun to appear.

As China's official PMI rises, the USD/CNH exchange rate fluctuates below 6.7600

Daniel Rogers

Jan 31, 2023 16:38

The USD/CNH currency pair is experiencing unpredictable volatility as a result of the National Bureau of Statistics (NBS) of China releasing strong official PMI data. The Official Manufacturing PMI has hit 50.1, exceeding both the 49.7 consensus expectation and the 49.0 level from the prior month. In addition, the Non-Manufacturing PMI has grown from 51.0 to 54.4. Despite the fact that households were preoccupied with celebrating the Lunar New Year in January, the scale of economic operations in China increased considerably.

 

The Caixin Manufacturing PMI data, which will be issued on Wednesday, will be the catalyst for a ferocious move in the Chinese Yuan. The economic indicators may rise to 49.5, up from 49.0 earlier.

 

As a result of the elimination of restrictions on the movement of people, products, and machines, China's economy is operating at full capacity. According to a Reuters poll, China's economic growth is anticipated to return to 4.9% in 2023 before stabilizing in 2024, as policymakers pledge to bolster support for the COVID-ravaged economy. In addition, the People's Bank of China will cut the Loan Prime Rate (LPR) by 5 basis points (bps) in the first quarter of CY2023, according to the survey.

 

In the interim, the risk-off impulse is regaining traction as S&P500 futures have surrendered more than half of the gains made by Asia's early trading session. As the Federal Reserve (Fed) prepares to raise interest rates to achieve its inflation objective of 2%, risk-perceived assets are anticipated to remain volatile. Fed chair Jerome Powell is likely to announce a 25 basis point (bps) interest rate hike due to the sharp declines in consumer spending and the Producer Price Index (PPI) in the United States economy.


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