During the Asian session on Thursday, the Australian dollar trimmed its early gains against most major currencies after a report showed that China HSBC manufacturing PMI fell to a 7-month low in June.
China's manufacturing activity contracted further in June, a survey by Markit Economics revealed today.
The flash HSBC purchasing managers' index for the manufacturing sector fell to a seven-month low of 48.1 in June from 48.4 in May.
The manufacturing output index fell to 49.1 in June from 49.7 in May.
Presently, the aussie is trading at 1.0161 against the US dollar, down from an early high of 1.0207. On the downside, the aussie may target 1.01 level. The aussie-greenback pair ended Wednesday's deals at 1.0196.
After touching a high of 81.16 against the yen in early deals, the aussie fell and the pair is now trading at 80.87. If the aussie slides further, it may target 80.00 level. At yesterday's close, the pair was worth 81.11.
The aussie that climbed to a 2-day high of 1.2436 against the euro and more than a 2-month high of 1.0407 against the Canadian dollar in early deals eased shortly. The aussie-loonie and the euro-aussie pairs slipped to as low as 1.0376 and 1.2483, compared to yesterday's close of 1.0383 and 1.2470, respectively. The next downside target level for the aussie is seen at 1.255 against the euro and 1.035 against the loonie.
In the European session, Swiss trade data for May and industrial production for the first quarter, flash PMI's of major European economies for June, Eurozone current account data for April and U.K. retail sales for May are due.
Canada retail sales for April, U.S. weekly jobless claims for the week ended June 16, existing home sales for May and house price index for April are scheduled for release in the New York morning session.
by RTT Staff Writer
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