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Australian Dollar Little Affected by Modest Decline in Manufacturing Index

Australian Dollar Little Affected by Modest Decline in Manufacturing Index

2012-02-29 23:03:00
Eric Andersen,
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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

Australian_Dollar_Little_Affected_by_Modest_Decline_in_Manufacturing_Index_body_Picture_5.png, Australian Dollar Little Affected by Modest Decline in Manufacturing Index

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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