Cable raw materials (rubber) weekly report (8.1-8.5)

1.
Macroeconomic news

1.
Data released by the American Institute for Supply Management (ISM) showed that the ISM non-manufacturing index in the United States was 55.
5 in July, less than the expected 55.
9 and lower than the 56.
5
in June.
The ISM Non-Manufacturing Index measures the state of the U.
S.
non-manufacturing sector
.
Although non-manufacturing accounts for a major part of the overall economy, it has limited
influence on the market because non-manufacturing data is cyclical and predictable.
However, given its large share of the CPI, it can reveal the inside picture of economic growth and inflationary pressures
.

2.
On August 4, the Bank of England announced a 25 basis point interest rate cut, increasing the size of the asset purchase program to 435 billion
.
This is the first time since March 2009 that the Bank of England has adjusted bank interest rates
.
After the announcement of the decision, the pound plunged sharply against the dollar in the short term
.
After the June Brexit referendum, Bank of England Governor Mark Carney hinted at a summer interest rate cut to deal with the possible impact
of Brexit.
But at the July meeting, the Bank of England did not rush as the market expected
.
The minutes showed that the committee discussed possible stimulus policies, with most members saying the impact of Brexit needed to be seen further and that there would be enough evidence to decide on action
by August.

3.
The Service Industry Survey Center of the National Bureau of Statistics and the China Federation of Logistics and Purchasing announced on August 1 that China's manufacturing purchasing managers' index (PMI) in July was 49.
9%, down 0.
1 percentage points
from the previous month.
This is the first time since March that the manufacturing PMI has fallen below the boom-dry line
.
According to expert analysis, the current traditional manufacturing industry is in the process of capacity reduction, the market demand is weak, and floods in some areas have affected the production and logistics and transportation
of enterprises.