Caixin China Manufacturing PMI (May): 50.9, beats 49.5 prior and 49.5 expected, AUD bid
|Caixin China Manufacturing PMI (May) has been released as follows:
- 50.9 (FORECAST 49.5, PREVIOUS 49.5)
AUD/USD update
In the prior AUD/USD Price Analysis: Bulls run into a wall of resistance bears eye downside breakout, and the downside was eyed as per the W-formation:
AUD/USD had followed that trajectory as follows:
However, the data has put a bid into AUD:
About the Caixin China Manufacturing PMI
The Caixin China Manufacturing PMI™, released by Markit Economics, is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 private manufacturing sector companies.
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