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Published: 2024-01-02T05:38:30.000Z

AUD/USD flows: Supported by higher comodity pirce and better China private manufacturing data

byCephas Kin Long Yung

FX Analyst
-

Commodity prices underpinned in the new year

Private Chinese Manufacturing showing better picture than official

 

The Chinese Caixin (Private) Manufacturing Monthly PMI showed a beat of estimate at 50.8, better than the official PMI released over the weekend that shows a further contraction. The Aussie is supported by higher commodity price on heightened geopolitical tension and "better" Chinese data, including domestic demand in traveling throughout the new year.

AUD/USD is trading 0.23% higher at 0.6827 as the sole winner within major peers against the USD.

 

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Topics
FX DM
AUD/USD-Commentary
Foreign Exchange
Flows

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