The USD is gaining across the majors board. AUD is notably a poor performer, not helped by more subdued official Chinese PMI data today:
China April 2024 Official Manufacturing PMI 50.4 (expected 50.3) Services 51.2 (exp 52.2)
- Somewhat offset by better unofficial PMI data:
- China April Caixin manufacturing PMI 51.4 (expected 51.0)
But the really bad news was very poor retail sales data in Australia:
- Australian March 2024 Retail Sales -0.4% m/m (expected +0.2%)
AUD/USD update:
This article was written by Eamonn Sheridan at www.forexlive.com.
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