News Headline Summary

Chinese HSBC Manufacturing PMI (Jan F) M/M 52.3 vs. Exp. 52.0 (Prev. 51.5), hitting a two-year high

- The input price sub-index jumped to it's highest since September 2011.
- The new orders sub-index, which has the biggest weighting in the PMI, climbed to 53.7, a level last seen since January 2011.

Reaction details (02:50)

- AUD/USD immediately moved higher by 12 pips to 1.0416 from 1.0404, trades 1.0418 (-3 pips) last.
- 2 minutes following the release, WTI moved higher by USD 0.03 to USD 97.56 from USD 97.53.
- 2 minutes after the release, the Hang Seng Index moved up 0.19% to 23,615.08.

Analysis details (02:57)

- HSBC China Chief Economist sees increasing signals of a sustained growth recovery in coming months.
- The steady investment growth led by infrastructure projects, improving labour market conditions boosting consumer spending, and the ongoing re-stocking process to lift production growth.

01 Feb 2013 - 02:45 - Forex Data - Source: Newswires

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