China’s official Manufacturing Purchasing Managers' Index (PMI) rose to 50.3 in November, compared to 50.2 in the previous reading.
China ’s official Manufacturing Purchasing Managers' Index rose to 50.3 in November, compared to 50.2 in the previous reading. The reading was in line with the market consensus of 50.2 in the reported month. The NBS Non-Manufacturing PMI eased to 50.0 in November versus October’s 50.2 figure and the estimates of 50.2. Market reaction At the time of writing,the AUD/USD pair is trading around 0.6524, up 0.36% on the day.
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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