China Caixin PMI beats expecttions by 0.6, AUD supported slightly

October Markit PMIs across Asia are released, with China being the focus (sponsored by Caixin). This was expected to be unchanged at 50, the threshold between expansion and contraction, as power outages and supply chain disruptions persist.

The data has arrived as follows:

50.6 which beats expectations of 50. 

This is a welcome outcome considering the weekend data. 

More to come on that...

AUD/USD reaction

AUD/USD is slightly better off trading towards flat on the day and off the lows.

More to come...

Aout Caixin PMI

The Caixin China Manufacturing PMI™, released by Markit Economics, is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 400 private manufacturing sector companies.