AUD has popped a little on the marginal improvement for China’s manufacturing PMI

A couple of AUD-relevant data points:

• China official July Manufacturing PMI 49.3 (vs. expected 49.2) & Services 51.5
• Australian data – June Private Sector Credit +0.2% m/m (expected 0.4%, prior 0.4%)

The headline to this post could well be a bit of a stretch, yes the manufacturing PMI improved a touch. But its still in contraction and the non-manufacturing PMI dropped on the month.

The manufacturing PMI has been under 50 now for 4 straight months. Perhaps there will be a boost for China alter:

• China to announce more stimulus measures on Monday, Beijing time

This has been AUD supportive for the session so far.

This article was written by Eamonn Sheridan at www.forexlive.com. Source