Australian Dollar Jumps After Trading Flat amid Mixed Fundamentals

The Australian dollar was under pressure during the current trading session after a private report showed that China’s manufacturing was deteriorating this month. Yet the currency did not move far initially as other data from China was not bad and the domestic indicators were supportive as well. The Aussie made a sharp jump just recently.

The HSBC Flash China Manufacturing Purchasing Managers’ Index dropped from 50.7 in February to 49.2 in March, indicating contraction of the sector. On the other hand, the Conference Board Leading Economic Index for China rose 1.5 percent in February. As for Australian data, the CB Leading Index for Australia increased 0.4 percent in January.

AUD/USD jumped from 0.7875 to 0.7934 as of 12:52 GMT today after falling to 0.7837 earlier. AUD/JPY advanced from 94.26 to 94.65 following the drop to the daily low of 93.83.

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