Business conditions in the Australian manufacturing sector rises 9.9 points
|Business conditions in the Australian manufacturing sector has risen 9.9 points, to 51.5, up from 41.6.
- New orders 55.7 (prior 35.1).
- production 52.3 (42.4).
- employment 49.6 (40.7).
- Wages 49.8 (45.6).
AUD is unchanged on the release.
AUD outlook
Second-tier Aussie data, China Caixin Manufacturing PMI in focus while AUD/USD bulls catch a breather around 5-day high after witnessing heavy gains in the second quarter (Q2).
- AUD/USD kick-starts Q3 around 0.6900, eyes China Caixin Manufacturing PMI
- DXY: Bears looking to bearish wedge breakout, encouraged by COVID-19 second wave
- AUD/USD Forecast: Holding in range, bulls still surging on dips
Description AiG performance of the Mfg Index
AiG performance of the Mfg Index released by the Australian Industry Group presents business conditions in the Australian manufacturing sector. The group surveys 200 manufacturers on their assessment of the business situation including employment, production, orders, prices, and inventories, and their short-term planning. A result above 50 is seen as positive (or bullish) for the AUD, whereas a result below 50 is seen as negative (or bearish).
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