China's Caixin Manufacturing PMI rises to 51.8 in June vs. 51.2 expected
China's Caixin Manufacturing Purchasing Managers' Index (PMI) unexpectedly rose to 51.8 in June, against the 51.7 reading in May, according to the latest data released on Monday.
The data beat the market forecast of 51.2 in the reported month.
Key highlights (via Caixin)
Output rises at quickest pace since June 2022 as new orders increase.
Employment broadly stable.
Output price inflation at eight-month high.
“Both supply and demand continued to expand. The pace of manufacturing output growth has increased for five straight months, with the production subindex hitting a two-year high,” said Wang Zhe, an economist at Caixin Insight Group.
Wang added, “demand also rose, keeping the subindex for total new orders in expansionary territory for the 11th consecutive month.”
Data released by China’s National Bureau of Statistics (NBS) showed Sunday that the official Manufacturing Purchasing Managers' Index (PMI) held steady at 49.5 in June, as expected. The Non-Manufacturing PMI dipped to 50.5 in the same period vs. May’s 51.0 and the estimated 51.0 figure.
AUD/USD reaction to China’s PMI data
The upbeat Chinese Manufacturing PMI fails to positively impact the Aussie Dollar, as AUD/USD flirts with intraday lows near 0.6665 at the time of writing, modestly flat on the day.
Australian Dollar PRICE Today
The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the weakest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.32% | -0.11% | 0.08% | -0.01% | 0.00% | -0.07% | 0.10% | |
| EUR | 0.32% | -0.02% | 0.10% | 0.00% | 0.21% | -0.06% | 0.11% | |
| GBP | 0.11% | 0.02% | 0.10% | 0.04% | 0.23% | -0.04% | 0.13% | |
| JPY | -0.08% | -0.10% | -0.10% | -0.10% | -0.02% | -0.16% | 0.03% | |
| CAD | 0.01% | -0.00% | -0.04% | 0.10% | 0.06% | -0.06% | 0.11% | |
| AUD | -0.01% | -0.21% | -0.23% | 0.02% | -0.06% | -0.27% | -0.02% | |
| NZD | 0.07% | 0.06% | 0.04% | 0.16% | 0.06% | 0.27% | 0.19% | |
| CHF | -0.10% | -0.11% | -0.13% | -0.03% | -0.11% | 0.02% | -0.19% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
