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China: Mixed Caixin PMI data releases – Rabobank

FXStreet (Delhi) - Michael Every, Research Analyst at Rabobank, notes that the Caixin PMI surveys out today showed manufacturing at 47.2, and services at only 50.5, with a composite PMI of 48.0 which is by contrast mixed to the official PMIs as they were also released today.

Key Quotes

“Chinese official PMIs, released despite a market holiday here, where manufacturing was at 49.8, so still sub-50 even on the more optimistic government measure, and services unchanged at 53.4.”

“Meanwhile, China has also relaxed mortgage down-payment requirements from 30% to 25%, another sign of how worried it is about the over-supply in the housing sector.”

AUD: Online sales surged 0.6 per cent in August - NAB

Alan Oster, Chief Economist at NAB, notes that the latest seasonally adjusted NAB online retail sales index showed that sales grew at 0.6% in August, which is an improvement on the -1.4% recorded in July.
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Risk-on dominates Asia amid upbeat China PMIs, a raft of PMIs eyed

Broad based US dollar strength persists in Asia as the broader market sentiment favored the riskier assets after the Chinese manufacturing gauges showed a slight improvement in September. However, volumes were relatively thinner as China stock markets remain closed in observance of National Day.
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