China’s manufacturing PMI index likely remained unchanged in June

China’s manufacturing PMI index for the month of June is likely to have remained almost flat. According to consensus expectations, the PMI index is expected to have come in at 51.1, a slight drop from May’s 51.2. The great moderation in China’s economic growth has recently stabilized. The first quarter GDP growth came in slightly more than consensus expectations.

The slightly faster pace of growth was partially linked to a rebound in secondary sector activities like mining, manufacturing and construction. The June PMI index is set to be released next week. The less widely followed non-manufacturing index is also set to come out next week.

At 23:00 GMT the FxWirePro's Hourly Strength Index of Chinese yuan was bullish at 81.832, while the FxWirePro's Hourly Strength Index of US Dollar was slightly bearish at -62.388. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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