Australian Dollar Little Affected by Modest Decline in Manufacturing Index
THE TAKEAWAY: Aussie Manufacturing Performance Index Drops from 51.6 to 51.3 > Traders Unfazed by Decline as They Wait on Release of Chinese Data > AUDUSD Continues Without Trend
Data released by the Australian Industry Group showed a decline in the manufacturing performance index from 51.6 to 51.3 in February. The lower figure indicated a decrease in the rate of expansion in the Aussie manufacturing sector.
The market’s response was muted as traders wait for the results of the Chinese Purchasing Manager Index, due out in a few hours. The AUDUSD currency pair was unchanged by the data release and continued to trade sideways.
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