China NBS Manufacturing PMI eases to 51.9 in December, AUD/USD crosses 0.7700

Anil Panchal FXStreet

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.

Read: AUD/USD crosses 0.7700 despite mixed China PMI data

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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