China 's Services Purchasing Managers' Index jumped from 52.5 in April to 54.0 in May, the latest data published by Caixin showed on Wednesday. The data beat the market expectations of 52.6 by a wide margin in the reported period. AUD/USD reaction to China ’s Services PMI At the time of writing,the AUD/USD pairis trading 0.23% on the day to retest intraday highs near 0.6660.
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.
PMI Economicindicator AUDUSD
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