Analysts at TD Securities are forecasting the Chinese Caixin Manufacturing PMI to increase to 50.1 in July from 49.4 in June.

• “The Caixin survey participants consist of mainly small and medium-sized companies and this is where much of the targeted lending has been aimed at. Taken together with the likely positive impact of China’s the trade truce with the US, it will likely help to fuel some improvement in the Caixin survey, with a move back into expansion territory following a contraction in June.”