- Asian indices fell as Asia Pacific underperformed in terms of PMI.
- Rising oil prices dampened sentiment after OPEC signaled output cuts.
- Now the focus has shifted to the US PMI data, which will provide investors with a clearer direction .
Downbeat Purchasing Managers’ Index (PMI) in Asia Pacific After the release of the data, the market in the Asian area showed a cautious attitude. The PMI data from Japan and Australia have been released and have been in a pessimistic state, and now investors are waiting for the release of the US PMI data.
In the future, investors will focus on PMI data from the strong US. The S&P Global Manufacturing Purchasing Managers’ Index is expected to fall to 51.5, down from 52.2 previously. However, the services PMI could improve significantly to 49.1 compared to the previous 47.3.
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