Chinese PMI Picks up but Outflows Weigh on the Yuan
Asian stocks reversed losses and industrial metals rallied after an unexpected pickup in manufacturing in China, the biggest driver of global economic growth. Australia’s dollar surged and the yen held steady following central bank meetings. The MSCI Asia Pacific Index swung to a gain as China purchasing managers’ indexes rose to two-year highs and topped the most optimistic estimates in Bloomberg surveys. CIB Head of FX Strategy Jeremy Stretch discusses with Anna Edwards and Yousef Gamal El-Din in London and Manus Cranny in Dubai on "Bloomberg Daybreak: Europe."