The PMIs from China's National Bureau of Statistics (NBS) are the focus. China's economy has shown signs of a slow and bumpy recovery from COVID, raising fears over slow global demand. Eyes are on the these PMIs as the latest information on whether or not the stimulus efforts we have seen from China so far are impacting and to help assess the prospects of more substantial boosts for the economy from Chinese authorities. A good result on PMIs will be a boost for the view of demand recovery but, it's a two-edged sword as it'll weigh on the potential form stimulus, at the margin. This conflict of impact will ensure two-wat trade in China and China-proxy trades (such as AUD).
