- A sub-index on new orders rose for the fifth month in a row to 52.7.
Reaction details (03:03)
- AUD/USD immediate edged higher by 3 pips from 1.0518 to 1.0521, trades 1.0523 (-6 pips) last.
- 1 minute after, Hang Seng index moved higher by 0.14%.
- 3 minutes after, Shanghai Composite moved higher by 0.63%, trades 2,083.87 last; Hang Seng continues to edge higher, trades 22,527.69.
- In a delayed reaction, WTI moved up by USD 0.15 from USD 86.38 to USD 86.53.
Analysis details (02:53)
- Improving conditions are primarily driven by domestic demand, according to Hongbin Qu, China chief economist at HSBC.
- The drop of new export orders and the downside surprise of November exports growth suggest the persisting external headwinds. This calls for Beijing to keep an accommodative policy stance to counter-balance the external weakness, provided inflation stays benign.
14 Dec 2012 - 02:45 - Forex Data - Source: Newswires
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