Aussie Dollar Showed a Mild Rally as Caixin PMI Marks a 3-Month High
DailyFX.com -
Talking Points:
China’s Caixin manufacturing PMI showed a print of 48.3 in October
Aussie Dollar showed a mild rally at the time the data was released
This is the highest mark for the manufacturing sector since July.
The Aussie Dollar showed a mild rally against its US namesake as China’s Caixin manufacturing PMI beat the markets’ expectation. The headline figure showed a print of 48.3 in October versus the 47.6 forecast and the 47.2 figure in September. This is the highest reading since July. The reaction of the unit may be simply due to the unexpected surpassing of the predicted number. It is important to note that a mark below 50 represents a contraction in the sector.
.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.