China's Caixin Manufacturing Purchasing Managers' Index (PMI) jumped to 50.3 in October after recording 49.3 in September, the latest data showed on Friday.
China 's Caixin Manufacturing Purchasing Managers' Index jumped to 50.3 in October after recording 49.3 in September, the latest data showedon Friday. The marketforecastwas for a 49.7 figure in the reported month. AUD/USD reaction to China ’s PMI data At the time of writing,AUD/USD is trading 0.13% lower on the day at 0.6573.
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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