Caixin Composite PMI comes in at 50.8

The Caixin Composite PMI for China was released at 50.8. This figure follows the previous reading of 53.6. No consensus figure was available for this release.

Following the release, USDCNH moved -11 pips within five minutes. Fifteen minutes after the data was published, USDCNH was down -7.8 pips. Historically, USDCNH has seen a median one-hour move of 6 pips after past Caixin Composite PMI releases. Top-quarter moves for this pair have exceeded 8 pips. The -7.8 pip move observed fifteen minutes after the release exceeded the median one-hour move of 6 pips and approached the top-quarter move of 8+ pips seen after past releases. These historical figures are based on two releases since 2015.