China's Caixin Manufacturing PMI eases to 50.5 in June vs. 50.2 expected

Dhwani Mehta FXStreet

China's Caixin Manufacturing Purchasing Managers' Index (PMI) came in at 50.5 in June, compared with May’s 50.9 readout, according to the latest data published on Monday. The market expectation was for a 50.2 expansion.

Key highlights (via Caixin)

Output expands marginally as demand growth remains mild.

Input prices fall at quickest rate since January 2016.

Business confidence slips to eight-month low.

On Friday, China's official Manufacturing PMI arrived at 49.0 in June as against the 48.8 contraction seen in May.

AUD/USD reaction

The upbeat print of the Chinese Manufacturing PMI failed to lift the Aussie Dollar, with AUD/USD testing the 0.6650 mark. The spot is trading at 0.6658, at the time of writing, down 0.12% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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