51.8: China’s RatingDog Manufacturing PMI beats estimates in May
The post 51.8: China’s RatingDog Manufacturing PMI beats estimates in May appeared on BitcoinEthereumNews.com. China’s RatingDog Manufacturing Purchasing Managers’ Index (PMI) declines to 51.8 in May from 52.2 in April the latest data published by RatingDog showed on Monday. The market forecast was for a 51.4 reading. AUD/USD reaction to China’s PMI data At the time of writing, the AUD/USD pair is trading around 0.7183, up 0.01% on the day. (This story was corrected on June 1 at 01:50 GMT to say China’s RatingDog Manufacturing Purchasing Managers’ Index (PMI) declined to 51.8 in May from 52.2 in April, not rose). Australian Dollar FAQs One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in