The Caixin China manufacturing PMI for February bettered estimates but remained below 50 for the third consecutive month. AUD is cheering a better-than-expected print and could rise further as a sub-index for new orders hit three-month highs. AUD/USD jumped 15 pips to a session high of 0.7109 immediate after the release of a better-than-expected forward-looking China manufacturing activity gauge. The Caixin China manufacturing purchasing managers’ index rose to 49.9 in February from 48.3 in January, Caixin Media Co. and research firm Markit said a few minutes before press time. The data bettered market expectations of 48.5. Further, the new orders sub-index jumped to a three month high of 50.2. It is worth noting that Caixin focuses on the small and medium-sized export-oriented units. The rise in the new orders index, therefore, indicates an improvement in overseas demand. As a result, risky assets could pick up a strong bid, adding to the bid tone around the AUD. As of writing, AUD/USD, a proxy for China, is trading at 0.7105. Technical Analysis FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next S. Korean FinMin: Result of Hanoi Summit could increase volatility in financial market FX Street 4 years The Caixin China manufacturing PMI for February bettered estimates but remained below 50 for the third consecutive month. AUD is cheering a better-than-expected print and could rise further as a sub-index for new orders hit three-month highs. AUD/USD jumped 15 pips to a session high of 0.7109 immediate after the release of a better-than-expected forward-looking China manufacturing activity gauge. The Caixin China manufacturing purchasing managers' index rose to 49.9 in February from 48.3 in January, Caixin Media Co. and research firm Markit said a few minutes before press time. The data bettered market expectations of 48.5. … Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
