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Final HSBC China PMI at 50.4 vs 50.5

FXstreet.com (Barcelona) - The final HSBC China manufacturing PMI came at 50.4 in April after the flash estimate stood at 50.5. The weak external demand weighed on the slight slip seen.

Hongbin Qu, Chief Economist, China & Co-Head of Asian Economic Research at HSBC said: “The slower growth of manufacturing activities in April confirmed a fragile growth recovery of the Chinese economy as external demand deteriorated and renewed destocking pressures built up. The looming deflationary pressures also suggest softer overall demand conditions. All this is likely to weigh on the labour market, which is likely to invite more policy responses in the coming months.”

Forex Flash: The AUD/USD is not particularly ‘expensive’ - NAB

The Aussie finished the day sharply lower, down 86 pips at 1.0279. Economic data out of the US again missed estimates, with the ISM Manufacturing PMI 50.7 actual vs. 50.9 forecast. Many are starting to question what the appropriate value is for AUD/USD should this trend of economic weakness continue.
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