Chinese PMIs miss the mark, AUD steady
|The Chinese Manufacturing PMI and Manufacturing PMI for August has been released.
The data arrived as follows:
- Chinese Manufacturing PMI Aug: 50.1 (exp 50.2; prev 50.4).
- Non-Manufacturing PMI Aug: 47.5 (exp 52.0; prev 53.3) - Composite PMI Aug: 48.9 (prev 52.4).
- Composite PMI at 48.9.
AUD/USD was unchanged in Asia on the data, sitting flat at 0.7290 between 0.7288/03 the range.
Longer-term, AUD/USD is attempting to stablise on USD weakness as follows:
Why the data matters to traders
The monthly Non-manufacturing and manufacturing PMIs are released by the 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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.