Chinese Manufacturing PMI beats and supports AUD on the margin, services fall
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
China’s PMIs have arrived as follows:
Ongoing COVID-19 risks are set to continue impacting the official services PMI in September.
The Caixin manufacturing PMI is also expected to confirm the broad-spread nature of the slowdown (market forecast: 49.5).
AUD/USD is attempting to move higher on the data but has come under pressure again, balancing at 0.6497.
The monthly manufacturing PMI is released by China Federation of Logistics and Purchasing (CFLP) on the last day of every month. The official PMI is released before the Caixin Manufacturing PMI, which makes it even more of a leading indicator, highlighting the health of the manufacturing sector, considered as the backbone of the Chinese economy. The data is of high relevance for the financial markets throughout several asset classes, given China’s influence on the global economy.
[/s2If]
Join Our Telegram Group
