China's Services Purchasing Managers' Index (PMI) eased to 52.5 in April, compared with the March print of 52.7, the latest data published by Caixin showed on Tuesday.
China 's Services Purchasing Managers' Index eased to 52.5 in April, compared with the March print of 52.7, the latest data published by Caixin showed on Tuesday. The data came in line with the market expectations in the reported period. AUD/USD reaction to China ’s Services PMI At the time of writing, the AUD/USD pair is up 0.08% on the day to trade at 0.6615.
How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar . When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected.
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