Decline in China's PMI may have overstated manufacturing slowdown

Source: Marketwatch
© Scanpix/Reuters

The decline in China's PMI might have overstated the real manufacturing slowdown in the country even taking into account weaker domestic demand since September, said Credit Suisse analysts. Special government-sponsored PMI that more evaluates situation in large-state companies is likely to indicate less drastic fall than reported on Wednesday, added Dong Tao, Credit Suisse analyst.

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Thu, 24 Nov 2011 09:11:45 GMT

Yen strengthens against its major counterparts

The Japanese Yen appreciated against most of its 16 major peers ahead of German report which is likely to show sharp drop in business confidence for fifth month in a row indicating Japanese Yen as safe haven. On Thursday morning trade Japanese currency increased 0.3% against US dollar reaching ВҐ77.09. In yesterday's New York trade the Yen strengthened against the Euro from ВҐ103.15 to

Thu, 24 Nov 2011 09:07:06 GMT

Australian bonds rally on European crisis

Australian 10-year government bonds extended gains as drops in German notes boosted concern that debt crisis may hit also region's biggest economy. Australian 3-year yield declined by 83 bp reaching 3.05%, the biggest drop since 2008 while 10-year borrowing rate plunged to 3.806%.  Matthew Johnson, UBS AG's strategist in Sydney said, investors are interested in diversifying their investments amid European uncertainty and Australian bonds are good option.

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