Australian Dollar Falls as China PMI Disappoints
Created Using Marketscope 2.0
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’.