The preliminary reading of Australia's Judo Bank Manufacturing Purchasing Managers Index (PMI) rose to 48.7 in August from 47.5 in July, the latest data published by Judo Bank and S&P Global showed on Thursday.
The preliminary reading of Australia 's Judo Bank Manufacturing Purchasing Managers Index rose to 48.7 in August from 47.5 in July, the latest data published by Judo Bank and S&P Global showed on Thursday. The Judo Bank Australia n Services PMI improved to 52.2 in August from the previous reading of 50.4, while the Composite PMI climbed to 51.4 in August versus 49.9 prior. Market reaction At the press time,theAUD/USD pairwas up 0.12% on the day to trade at 0.6752.
How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar . When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected.
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