The Australian dollar gained today after the release of mixed economic data from China and the positive report from Australia itself.
The manufacturing Purchasing Managers’ Index released by the China Federation of Logistics and Purchasing was flat at 49.8 in October, indicating contraction of the sector, while analysts had promised an increase to the neutral 50.0 level. At the same time, the Caixin manufacturing PMI climbed to 48.3 in October from 47.2 in September, exceeding the median forecast of 47.7. As for Australia’s data, building approvals rose 2.2 percent in September from August, faster than had been predicted by experts.
AUD/USD gained from 0.7113 to 0.7133 and AUD/JPY advanced from 85.65 to 86.05 as of 12:19 GMT today.
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