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Australian Dollar Hit By Weak Building Permits, Gains On China PMI
The Australian Dollar fell a little and then bounced Thursday on a mixed bag of domestic and Chinese economic data. The January Caixin Purchasing Managers Index survey of private sector Chinese manufacturers came in at 51.5. This was exactly as expected and the same as December’s reading. Still there may yet have been some relief for investors in the figure given that the official PMI released on Wednesday came in at a slower than expected 51.3. In the logic of PMIs any reading above 50 signifies a monthly expansion for the sector in question. Caixin reported robust current performance but said that there were some ... (full story)