Created
: 2024.12.31
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
China's NBS Manufacturing PMI eases to 50.1 in December, Non-Manufacturing PMI rises to 52.2
World FX news
Breaking news
China's NBS Manufacturing PMI eases to 50.1 in December, Non-Manufacturing PMI rises to 52.2
New
2024.12.31 10:38
2024.12.31 10:38
2024.12.31 10:38
China's official Manufacturing Purchasing Managers' Index (PMI) eased to 50.1 in December, compared to 50.3 in the previous reading. The reading came in below the market consensus of 50.3 in the reported month.
The NBS Non-Manufacturing PMI rose to 52.2 in December versus November's 50.0 figure and the estimates of 50.2.
Market reaction
At the time of writing, the AUD/USD pair is trading around 0.6229, up 0.14% on the day.
Australian Dollar FAQs
One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment - whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) - is also a factor, with risk-on positive for AUD.
The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can also use quantitative easing and tightening to influence credit conditions, with the former AUD-negative and the latter AUD-positive.
China is Australia's largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar (AUD). When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected. Positive or negative surprises in Chinese growth data, therefore, often have a direct impact on the Australian Dollar and its pairs.
Iron Ore is Australia's largest export, accounting for $118 billion a year according to data from 2021, with China as its primary destination. The price of Iron Ore, therefore, can be a driver of the Australian Dollar. Generally, if the price of Iron Ore rises, AUD also goes up, as aggregate demand for the currency increases. The opposite is the case if the price of Iron Ore falls. Higher Iron Ore prices also tend to result in a greater likelihood of a positive Trade Balance for Australia, which is also positive of the AUD.
The Trade Balance, which is the difference between what a country earns from its exports versus what it pays for its imports, is another factor that can influence the value of the Australian Dollar. If Australia produces highly sought after exports, then its currency will gain in value purely from the surplus demand created from foreign buyers seeking to purchase its exports versus what it spends to purchase imports. Therefore, a positive net Trade Balance strengthens the AUD, with the opposite effect if the Trade Balance is negative.
Last updated
: 2024.12.31
Related articles
USD/JPY softens below 157.50 amid holiday season in Japan
17 minutes agoChina's NDRC: Fully confident in achieving continued economic recovery in 2025
39 minutes agoUSD/INR drifts higher ahead of US PMI release
2025.01.03 11:36PBOC sets USD/CNY reference rate at 7.1878 vs. 7.1879 previous
2025.01.03 10:18USD/CAD weakens below 1.4400 on upbeat Canadian PMI, higher crude oil prices
2025.01.03 10:15South Korean authorities attempt to arrest President Yoon Suk Yeol
2025.01.03 09:27
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
USD/JPY softens below 157.50 amid holiday season in Japan
The USD/JPY pair edges lower to near 157.30 during the Asian trading hours on Friday.
New
2025.01.03 12:24China's NDRC: Fully confident in achieving continued economic recovery in 2025
The National Development and Reform Commission (NDRC), China's state planner, said in a statement on Friday that it is "fully confident in achieving continued economic recovery in 2025." Additional takeaways Will sharply increase funding from ultra-long treasury bonds this year to support "two new" programmes.
New
2025.01.03 12:02USD/INR drifts higher ahead of US PMI release
The Indian Rupee (INR) extends the decline on Friday after closing at its weakest level on record for the eighth consecutive session.
New
2025.01.03 11:36Gold price holds ground due to safe-haven demand amid rising tensions in Middle East
Gold prices (XAU/USD) edges higher for the fourth consecutive session on Friday, building on a stellar performance in 2024 with gains exceeding 27%, the metal's best annual return since 2010.
New
2025.01.03 11:17PBOC sets USD/CNY reference rate at 7.1878 vs. 7.1879 previous
The People's Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Friday at 7.1878, as compared to the previous day's fix of 7.1879 and 7.2868 Reuters estimates.
New
2025.01.03 10:18USD/CAD weakens below 1.4400 on upbeat Canadian PMI, higher crude oil prices
The USD/CAD pair softens to near 1.4395 on Friday during the Asian trading hours.
New
2025.01.03 10:15South Korean authorities attempt to arrest President Yoon Suk Yeol
South Korean investigators were reportedly involved in a standoff with a military unit inside the presidential residence as they attempted to arrest the country's suspended leader, Yoon Suk Yeol, weeks after his botched attempt to declare martial law on December 3, per Reuters.
New
2025.01.03 09:27EUR/USD kicks off 2025 with a fresh move to the downside
EUR/USD took another leg lower to kick off the 2025 trading season, falling eight-tenths of one percent and tapping the 1.0250 level for the first time since November of 2022, a nearly 26-month low.
New
2025.01.03 09:12Biden discussed plans to strike Iran nuclear facilities before Trump's inauguration
Joe Biden reportedly discussed plans to attack Iran's nuclear facilities in the event Tehran moved closer to building a nuclear bomb before Donald Trump's inauguration on January 20, three sources with knowledge of the issue tell Axios.
New
2025.01.03 09:11NZD/USD holds below 0.5600 on stronger US Dollar, eyes on US PMI data
The NZD/USD pair remains on the defensive around 0.5590 during the early Asian session on Friday, pressured by the firmer Greenback.
New
2025.01.03 08:57Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
