Caixin China Manufacturing PM arriaves at 51.7 vs. 48.1 in May

Caixin China Manufacturing PMI has been released as follows:

”China’s manufacturing activity expanded at its fastest in 13 months in June, buoyed by a strong rebound in output, as the lifting of COVID lockdowns sent factories racing to meet recovering demand, a private sector poll showed on Friday.

The Caixin/Markit manufacturing purchasing managers’ index (PMI) rose to 51.7 in June, also indicating the first expansion in four months, from 48.1 in the previous month. That was well above analysts’ expectations for an up-tick to 50.1.

The 50-point index mark separates growth from contraction on a monthly basis,” Reuters reports.

AUD/USD update

AUD/USD is being popping higher on the data but is overall pressured as the US dollar corrects from overnight lows and the bears have 0.6850s in their sights as a potential range demand area on the lower time frames:

About Caixin China Manufacturing PMI

The Caixin China Manufacturing PMI™, released by Markit Economics, is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 manufacturing private sector companies.

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