Why China’s Manufacturing PMI Surge to 51.2 Could Be a Double-Edged Sword for Investors This September
Ever wonder how a tiny shift in China’s purchasing power could ripple through the global markets and even nudge the Aussie dollar? In September, China’s Manufacturing PMI strutted up a notch to 51.2, outpacing expectations, while the Services PMI took a slight dip—just enough to catch the market’s attention but not derail confidence. It’s like watching a tightrope walker wobble but still keep their balance. Naturally, the Australian Dollar, often seen as the unofficial proxy for China’s economic heartbeat, edged up ever so slightly against the US Dollar. What’s fascinating here is how these subtle shifts tell a bigger story about global trade dynamics and investor sentiment. Could this be the early whisper of more robust economic activity ahead, or just a fleeting blip? Hold onto your keyboards, because unpacking these numbers might just reveal the next big investment play. LEARN MORE
China’s RatingDog Manufacturing Purchasing Managers’ Index (PMI) rose to 51.2 in September from 50.5 in August, the latest data published by RatingDog showed on Tuesday.
The market forecast was for a 50.3 print.
China’s Services PMI dropped slightly to 52.9 in September from 53 in August.
The data came in a tad lower than the market estimates of 52.3 in the reported period.
AUD/USD reaction to China’s PMI data
The Chinese proxy, the Australian Dollar (AUD), clings to minor gains following the upbeat data, with AUD/USD adding 0.05% on the day to 0.6580 as of writing.
Australian Dollar Price Today
The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the Euro.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.07% | 0.05% | 0.01% | 0.05% | -0.04% | -0.08% | -0.02% | |
| EUR | -0.07% | -0.04% | -0.03% | -0.04% | -0.11% | -0.14% | -0.07% | |
| GBP | -0.05% | 0.04% | 0.02% | 0.02% | -0.09% | -0.10% | -0.03% | |
| JPY | -0.01% | 0.03% | -0.02% | -0.01% | -0.07% | 0.06% | -0.02% | |
| CAD | -0.05% | 0.04% | -0.02% | 0.01% | -0.09% | -0.10% | -0.05% | |
| AUD | 0.04% | 0.11% | 0.09% | 0.07% | 0.09% | -0.03% | 0.06% | |
| NZD | 0.08% | 0.14% | 0.10% | -0.06% | 0.10% | 0.03% | 0.08% | |
| CHF | 0.02% | 0.07% | 0.03% | 0.02% | 0.05% | -0.06% | -0.08% |
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).
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