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China: Caixin flash manufacturing PMI to show impact of EM turmoil – Danske Bank

FXStreet (Delhi) – Research Team at Danske Bank, suggest that before markets open in Europe tomorrow the Chinese Caixin flash manufacturing PMI for September is released and this will probably be the first number that reflects the real impact from the Emerging Markets' turmoil during August and early September.

Key Quotes

“While we see downside risk to growth in China in the short term, this was already reflected in the very low PMI for August when it dropped to 47.1. We look for a slight rise in September to 47.5, which is still a very low level.”

“However, the markets have already priced in a high risk of a hard landing in China and if we were to see even a small increase this might be taken as a minor relief.”

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