China economy shows muted improvement during holiday period – Bloomberg

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Bloomberg came out with analysis suggesting few signs of improvement in Chinese economy despite its second month without Covid Zero curbs. The research, however, marks the Lunar New Year (LNY) holiday season as marking a lid on some activities.

Bloomberg’s aggregate index of eight early indicators showed a slight uptick in activity in January, versus a contraction in December, reported Bloomberg.

The news seems to weigh on the market sentiment and exerts downside pressure on the AUD/USD prices holding lower grounds near intraday bottom near 0.7085 by the press time.

Also read: AUD/USD Price Analysis: Refreshes day’s low below 0.7100 amid risk-off mood

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