Original post in black. Latest update in blue
Briefly, the US GDP data came in at 2% vs the previous month estimate of 2.5%. This estimate is worrying. First weak data for a long time from the US since mid October.
HSBC Chinese Flash PMI sinks Asian market. 'Flash' is a preliminary PMI before the actual data which is normally release at the end of month or 1st week next month. The data sank to 48 from above 50 which shows contraction. As a result, consumer sentiment weakens sending the Aussie dollar and Asian markets lower.
For the record, the previous month HSBC flash estimates was lower than the actual data released. In addition, the real data from the Chinese was much lower than the HSBS data. But this is how the market trend - relying on fundamentals as well as how the investor interpret ...