Some Positive China News as PMI Beats Expectations: AUD/USD
Today’s Chinese Private PMI has come in above expectations in what marks one good news story finally.
Rowan Crosby•Friday, March 1, 2019•1 min read
Today’s Chinese Private PMI has come in above expectations in what marks one good news story finally.
The Private Manufacturing PMI came in at 49.9 with the expected number being 49.5 so finally a decent result.
This, of course, comes on the back of the official data which missed expectations and weighed on markets.
AUD/USD Higher
The news has seen a bit of an uptick in the AUD/USD.
Currently, the AUD/USD is slightly higher on the session but is still well under the 0.7200 level.
Price is holding 0.7100, but given the strength in the USD that we saw overnight, there could well be some follow through here from the Greenback.
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Rowan Crosby
Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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