Aussie stands still, kiwi soars
On Monday, the Australian dollar stood still against its American counterpart, while the New Zealand dollar ascended after the release of China’s mixed manufacturing activity and Friday’s downbeat growth data kept weighing on the greenback.
The currency pair AUD/USD stood still at 0.7615, which is the highest value since July 15.
Data earlier demonstrated that in July China’s official manufacturing purchasing managers’ index ticked slumped to 49.9 from 50.0 last month, compared to hopes for an unchanged reading.
Meanwhile, the previous month, the Caixin manufacturing PMI headed north to 50.6 from June’s reading of 48.6, compared to hopes for a leapt to 48.7.
By the way, China appears to be Australia’s number major export partner and also New Zealand’s second biggest export partner.
As for NZD/USD, this currency pair soared 0.11%, being worth 0.7215, which is close to Friday’s two-week peak of 0.7233.
On Friday, the Commerce Department drew attention to the advance read on second quarter, when American GDP disclosed a 1.2% annualized growth rate, which is below 2.6% expectations.