China NBS Manufacturing PMI eases to 51.9 in December, AUD/USD crosses 0.7700
|China’s official Manufacturing Purchasing Manager’s Index (PMI) eases to 51.9 in December from November’s 52.1 while nearing the consensus forecast of 52.0.
Meanwhile, the official Non-Manufacturing Purchasing Manager’s Index (PMI) jumped to 55.7 in December vs. 52.4 expected and 56.4 last.
With this, PMI Composite stepped back from 55.7 to 55.1 during the stated period.
However, the data marks 10 months of activity expansion into Australia's largest customer, world's largest commodity user, which in turn offer additional strength to the current risk-on mood.
Market reaction
AUD/USD pierces 0.7700 while taking the bids following the news.
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