Filtered by date: 05.06.2019. Clear
  • Powell’s “act as appropriate” wording sends stock higher and dollar plunging, as trade risks intensify

    China’s confidence in the need of a fresh round of credit stimulus could strengthen, as shown by the services PMI report from local agency, Caixin. The agency’s formula for the activity index gives more weight to private companies, compared to government PMI estimates which can be biased toward government supported, and thus more stable enterprises. According to the Caixin report, services PMI fell in May from 54.5 to 52. 7 points, missing projections. The composite index that combines production and services fell from 52.7 in April to 51. 5 points in May.