He Caixin Chinese Manufacturing Purchasing Managers’ Index (PMI) unexpectedly rose to 51.8 in June, up from a reading of 51.7 in May, according to the latest data released Monday. This is his best read since May 2021.
The data surpassed the market forecast of 51.2 in the reported month.
Highlights (via Caixin)
Production increases at fastest pace since June 2022 as new orders increase.
Generally stable employment.
Producer price inflation at its highest level in eight months.
“Both supply and demand continued to expand. The growth pace of manufacturing output has increased for five consecutive months, with the output sub-index hitting a two-year high,” said Wang Zhe, an economist at Caixin Insight Group.
Wang added, “Demand also increased, keeping the total new orders sub-index in expansionary territory for the 11th consecutive month.”
Data released by China’s National Bureau of Statistics (NBS) on Sunday showed that the Official Manufacturing Purchasing Managers’ Index (PMI) held steady at 49.5 in June, as expected. The non-manufacturing PMI fell to 50.5 in the same period from 51.0 in May and the estimated figure of 51.0.
AUD/USD reaction to China PMI data
The optimist Manufacturing PMI Chinese currency fails to positively impact the Australian Dollar as AUD/USD flirts with intraday lows near 0.6665 at time of writing, modestly flat on the day.
Australian Dollar PRICE Today
The table below shows the Australian Dollar (AUD) exchange rate against major currencies today. The Australian Dollar was the weakest currency 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 for major currencies. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you choose the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change shown in the box will represent the AUD (base)/USD (quote).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
