China's Caixin S&P Global Manufacturing Purchasing Managers' Index (PMI) rose from 51.4 in April to 51.7 in May, according to the latest data released on Monday.
China 's Caixin S&P Global Manufacturing Purchasing Managers' Index rose from 51.4 in April to 51.7 in May, according to the latest data releasedon Monday. The reading beat the market consensus of 51.5 in the reported month. Key highlights Production expands at most pronounced pace since June 2022. Fastest purchasing activity growth in three years as confidence improves. Input price inflation rises to seven-month high. Both supply and demand expanded amid the upturn.
Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive. 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 .
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