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Australian Dollar Holds Firm as China’s Manufacturing PMI Slightly Misses Forecasts

BitcoinWorld Australian Dollar Holds Firm as China’s Manufacturing PMI Slightly Misses Forecasts The Australian Dollar (AUD) remained in a stronger position against the US Dollar (USD) on Thursday, sustaining its recent gains even as China’s latest Caixin Manufacturing Purchasing Managers’ Index (PMI) came in slightly below market expectations.

China’s Caixin PMI Data: A Closer Look The data, released overnight, showed that China’s factory activity expanded in April, but at a marginally slower pace than analysts had anticipated.

The Caixin Manufacturing PMI, which provides a private-sector reading on the health of China’s manufacturing sector, is a key indicator for Australia due to the two countries’ deep trade ties.

While the headline figure missed the consensus forecast, it remained in expansionary territory, signaling that the world’s second-largest economy is still growing.

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