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👋🏻Today, we got Australia building approvals tanking a bit more than expected; China de-internationalization of the RMB w/ swift down to 1.88% from 1.89% (price of a stable RMB is a more closed capital account); Oh, Korea department store sales contracting😬. 
U're like, why did she quote/tweet herself. B/c want to tell u about what's going to be happening tomorrow. 1st, last day of May - bad month unless u're a high-grade fixed income dude then yay!
China May PMI is manana!!! Expectations of manu are 📉(Korea exports to China -15.9%)
China May PMI is manana!!! Expectations of manu are 📉(Korea exports to China -15.9%)
Want to go over this w/ people as not everyone's in finance (like 12hrs a day looking at $ & data like some of us). 1st, when we say expectations or consensus, it's based on a group of people that submit (usually sell-side research economists).
April was 50.1 & consensus is 49.9
April was 50.1 & consensus is 49.9
What's consensus? As I told u, it's not actually market consensus but rather an AVERAGE of the people that CHOOSE to submit to a survey.
Sample is 34 & spread's skewed towards low. Highest 50.5 & standard deviation is 0.2 * lowest is 49.5 Most think below 50 but not much👇🏻
Sample is 34 & spread's skewed towards low. Highest 50.5 & standard deviation is 0.2 * lowest is 49.5 Most think below 50 but not much👇🏻
When u see expectations, remember it's an ave. Say u're bearish & think it'll go 📉. Important to see the people that don't concur (>50.1 est).
Moody's most optimistic & next 2 are locals. Important to know the opposite views to urs👈🏻(I also show lowest ests too). Can't wait!
Moody's most optimistic & next 2 are locals. Important to know the opposite views to urs👈🏻(I also show lowest ests too). Can't wait!
