Loading ...speaking of news events I saw on Bloomberg TV that China is to release a major summary on the status of the virus on Saturday—if this is true, there is no doubt they will cast the situation in a positive and improving light which could cause Sunday nite futures to precipitate a huge short squeeze. I don’t think they will allow a gloomy number as suggested in this article…
China Set to Release Biggest Insight Into Virus-Hit Economy
Bloomberg News-
Economist survey sees manufacturing PMI slumping to 45
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Chinese factories are struggling to get back to full capacity
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On Saturday, China will give the biggest and most-anticipated insight yet into how much the coronavirus is hurting its economy, with a key gauge of manufacturing activity set to plunge.
As investors brace for a pronounced slowdown in China to ricochet around the world, the official manufacturing Purchasing Managers’ Index due to be released at 9 a.m. Beijing time on Saturday is projected to fall to 45 in February from 50 in January, according to a Bloomberg survey of economists. That would be the lowest since the depths of the 2008 financial crisis.
In a sign of how much confusion the virus is wreaking and how much the data’s release could rock markets, the range of predictions varies wildly. The lowest is BNP Paribas SA’s 33, which would mark an historic slump. Bloomberg Economics forecasts it will fall to 40.7.