China's NBS Manufacturing PMI improves to 49.0 in June vs. 49.0 expected

Dhwani Mehta FXStreet

China's official Manufacturing Purchasing Managers' Index (PMI) arrived at 49.0 in June as against the 48.8 contraction seen in May, the latest data published by the country’s National Bureau of Statistics (NBS) showed on Friday. The market had estimated a 49.0 figure.

The index rebounded from a five-month low but remained below the 50 mark that separates expansion from contraction.

The NBS Services PMI eased to 53.2 in June, compared with 54.5 reported in May while beating expectations of 50.8.

AUD/USD reaction

The mixed readings of the Chinese PMIs dragged the Aussie Dollar lower, with AUD/USD challenging 0.6600. The spot is trading at 0.6605, at the time of writing, down 0.05% 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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