Australian Dollar falls as China PMI Disappoints

DailyFX

THE TAKEAWAY: The Australian Dollar fell against the US Dollar and most of its major counterparts as the China HSBC PMI came in worse than expected.

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Australian_Dollar_falls_as_China_PMI_Disappoints_body_china_PMI.png, Australian Dollar falls as China PMI Disappoints

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The Australian Dollar fell against most of its major counterparts, and a significant move was seen against the US Dollar as the China HSBC PMI for February disappointed markets. The January PMI saw some signs of a recovery in the region at 52.3, and analysts had expected 52.2 for the month of February but saw disappointing 50.4. China holds a 13.2% share of Australia’s two way trade, and this poor flash saw investors lose confidence in the strength of the so called ‘Aussie’.

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