China Caixin Services beats and compliments a slew of positve data from China – by fx_ross China AUDUSD
Caixin China PMI Composite Feb: 54.2 .rising to 52.6 in February from 50.1 prior, the highest reading in over a decade. In addition, average PMIs for manufacturing, services and construction in 2M-2023 reached their highest levels in nearly two years, indicating a broad-based recovery. The rebound in services activity was stronger than manufacturing, as external demand remained relatively soft.Despite the data today, AUD/USD is a touch lower on the release, but remained up on the day at 0.
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