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The HSBC China flash PMI for July comes in at 48.9, showing contraction for the 1st time in a...

The HSBC China flash PMI for July comes in at 48.9, showing contraction for the 1st time in a year, and the lowest reading in 28 months. Assets levered to hot Chinese growth - the Australian dollar and copper to name two - drop sharply on the news. Shanghai -1%.
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Comments (3)
  • Barry Crocker
    , contributor
    Comments (454) | Send Message
     
    Ignored in Oz today. Aussie dipped, sharply ? hardly.
    21 Jul 2011, 07:24 AM Reply Like
  • SA Editor Stephen Alpher
    , contributor
    Comments (547) | Send Message
     
    50 pips in minutes qualifies as sharply. Shares also dropped 0.5% immediately.

     

    finviz.com/forex_chart...
    21 Jul 2011, 07:27 AM Reply Like
  • dieuwer
    , contributor
    Comments (2501) | Send Message
     
    China is a master of puppetry. They want lower copper prices to snap up metal on the cheap? Just print a low PMI, et voila, lower copper prices!
    Great isn't it?
    21 Jul 2011, 04:42 PM Reply Like
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