China - HSBC manufacturing PMI for March (Flash): 49.2
- Expected 50.5
- Prior was 50.7
AUD/USd lower on the release after falling lower in the hours or so leading up to it also.
Annabel Fiddes, Economist at Markit:
"The HSBC Flash China Manufacturing PMI signalled a slight deterioration in the health of China's manufacturing sector in March. A renewed fall in total new business contributed to a weaker expansion of output, while companies continued to trim their workforce numbers. Meanwhile, manufacturing companies continued to benefit from falling input costs, stemming from the recent global oil price decline. However, relatively muted client demand has led firms to pass on savings in a bid to boost new work, and cut their selling prices at a similarly sharp rate."
