Australia's S&P Global Manufacturing PMI steadies at 52.0 in August
The preliminary reading of Australia's S&P Global Manufacturing Purchasing Managers Index (PMI) came in at 52.0 in August versus 52.0 prior, the latest data published by S&P Global showed on Friday.
The preliminary S&P Global Manufacturing PMI for Australia remained steady at 52.0 in August, unchanged from the previous month. The Services PMI dropped to 52.9 from 53.6, while the Composite PMI fell to 52.5 from 53.2. The data has limited impact on the Australian Dollar, which is currently experiencing a slight decline against the US Dollar.
Factors affecting the AUD include interest rates set by the Reserve Bank of Australia, the price of Australia's biggest export, Iron Ore, and the health of China's economy, its largest trading partner.
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