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AUD/USD recovers from multi-month low to 0.6725 after China PMI
AUD/USD rises to the intra-day high of 0.6725 during the Asian session on Friday. The data recently reacted to the key activity numbers from its largest customer China. That said, fears of coronavirus outbreak dragged the quote to four-month low during the previous day. China’s official PMIs for January flashed mixed signals as the headline Manufacturing PMI matched the 50.00 forecast versus 50.2 prior while Non-Manufacturing PMI rose beyond 53.5 expected to 54.1. As the data doesn’t disappoint much, traders bid the pair after the release. Earlier during the day, Australia’s Private Sector Credit and Producer ... (full story)
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China's service sector activity grows faster in January - official PMI
Growth in China’s services sector activity quickened in January, official data showed on Friday. The official services PMI rose to 54.1, from 53.5 in December, the National Bureau of Statistics said. The 50-point mark separates growth from contraction on a monthly basis. Beijing has been counting on a strong services sector to help offset prolonged weakness in manufacturing, which has been weighed by weak domestic and global demand and the protracted U.S.-China trade war. But analysts estimate the sector could take a severe hit from an outbreak of the new coronavirus, as shops, restaurants and movie theaters see a ... (full story)
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China says its manufacturing PMI came in at 50.0 for January, as expected
China said on Friday its official manufacturing Purchasing Managers’ Index came in at 50.0 for January, said the National Bureau of Statistics. Economists polled by Reuters had expected the official January manufacturing PMI to come in at 50.0. The official manufacturing PMI — a survey of purchasing managers — was 50.2 in December. PMI readings above 50 indicate expansion, while those below that level signal contraction. The manufacturing PMI was released just after the World Health Organization on Thursday declared a coronavirus outbreak that started in Wuhan, China as a global health emergency. China’s ... (full story)
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