Asian markets optimistic for U.S. "soft landing", while China's factory activity declines.
Asian markets are optimistic as traders anticipate a U.S. "soft landing" and a dovish Federal Reserve, driven by eased financial conditions and positive U.S. economic data. However, China's factory activity is declining, with a composite PMI of 50.1 indicating stagnation. As manufacturing PMIs from various Asian countries are set to be released, the yuan is notably strong against the dollar, despite concerns about China's economic stimulus needs.
September 01, 2024
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