Quotes from Danske Bank:
-The release of the Chinese NBS manufacturing PMI was a small positive surprise to us and the market. The index scored 51.7 in July, an increase from 51.0 in June and higher than our forecast of 51.3.
-The strong release further adds to our view that the Chinese economy now has moved to a phase of moderate recovery and that we should expect a further acceleration of growth in the third quarter.
-The ongoing recovery of Chinese growth is overall positive for sentiment regarding emerging markets and also demand for commodities, in particular demand for base metals.
The material has been provided by InstaForex Company – www.instaforex.com