China’s official Manufacturing Purchasing Managers' Index improved to 50.8 in March from the previous reading of 49.1, the latest data published by the country’s National Bureau of Statistics showed on Sunday. Markets expected a 49.9 readout in the reported month. Meanwhile, the NBS Non-Manufacturing PMI climbed to 53.0 in March versus 51.4 in February. Market reaction At the time of writing, the AUD/USD pair is trading around 0.6527, up 0.18% on the day.
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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