Caixin China Manufacturing PMI: 49.4 (vs. est 48.9; prev 49.2), AUD steady

Ross J Burland FXStreet

The Caixin China Manufacturing PMI, released by Markit Economics has been released as follows:

49.4 (vs. estimated 48.9 and the previous 49.2.

AUD/USD update

On the data, the Aussie has not budged. However, AUD/USD increased to an 11-week high of 0.6816 after the US dollar fell across the board after Federal Reserve Chairman Jerome Powell said that the US central bank could scale back the pace of its interest rate hikes. This sent the US Dollar index on track for its worst month since 2010.

About the Caixin China Manufacturing PMI

The Caixin China Manufacturing PMI™, released by Markit Economics, is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 private manufacturing sector companies.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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