A couple of AUD-relevant data points:
- China official July Manufacturing PMI 49.3 (vs. expected 49.2) & Services 51.5
- Australian data - June Private Sector Credit +0.2% m/m (expected 0.4%, prior 0.4%)
The headline to this post could well be a bit of a stretch, yes the manufacturing PMI improved a touch. But its still in contraction and the non-manufacturing PMI dropped on the month.
The manufacturing PMI has been under 50 now for 4 straight months. Perhaps there will be a boost for China alter:
This has been AUD supportive for the session so far.
