The independent HSBC / Markit Manufacturing PMI for China came out below expectations for April: 49.2 points, reflecting a slightly more pronounced slowdown than had been anticipated. This is the preliminary read and could still change, but it certainly goes hand in hand with other signs of slowdown from the world’s no. 2 economy and Australia’s no. 1 trade partner.
The Aussie is pressured, losing previous gains.
Read the rest of the article Australian dollar encounters more Chinese pressure