Trouble is brewing in China. Again. The China Flash Caixin manufacturing PMI (formerly backed by HSBC) fell to 47.1 points, reflecting deeper contraction. This was lower than 48.2 expected and below 47.8 seen in July.
The Australian dollar didn’t like it and dipped below 0.73 to 0.7286. While the pair didn’t hit the multi-year lows just yet, the RBA’s decision on September 1st just became tougher.
Read the rest of the article AUD/USD under pressure after another poor Chinese figure