China HSBC Manufacturing PMI rises to 51.7 in Mar from 50.4

Mar 21, 2013

Forex: AUD/USD between 1.0350 and 1.04 ahead of China HSBC

The Australian Dollar continues to trade extremely erratic vs the US Dollar, a characteristic that is likely to put off many traders until the picture clears up. After continuous spikes off 1.0340/50 demand, camped sellers just above 1.04 have been also persistently bringing the rate down, resulting on very messy activity in between.

HSBC PMI in China at 51.7, two month high

The HSBC Flash China Manufacturing Purchasing Managers’ Index came better-than-expected at 51.7 in March vs 50.4 in February, a two-month high. Flash China Manufacturing Output Index stood at 52.8 vs 50.8 in February, also a two-month high, overall a pretty solid read giving the Australian Dollar a temporary boost.