China NBS Manufacturing and Non-Manufacturing PMIs: Beating estimates, AUD remains pressured China AUDUSD
Manufacturing 50.1 vs. expected 49.8 vs prior 47.AUD/USD is still under pressure despite vast improvements.
It was suggested that data might just see the target reached as illustrated above. The analysis was drawn for the market open this week and has played out as a high-probability scenario considering the trapped volume as was explained in the following article: AChina Federation of Logistics and Purchasing publishes the Non-Manufacturing and Manufacturing PMIs on a monthly basis.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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