Currency Alerts

Australian Dollar Slides Amid China Manufacturing PMI

The Australian dollar staged a sharp fall against most major currencies in Asian morning deals on Thursday following a report showing that China HSBC flash manufacturing PMI touched a nine-month low in June.

Data from HSBC and Markit economics showed that China's manufacturing activity for June fell to 48.3 from 49.2 last month.

The aussie fell to near 3-year lows of 0.9239 against the greenback and 0.9506 against the loonie. The next probable support level for the aussie lies around 0.91 against the greenback and 0.946 against the loonie.

The aussie touched 1.4358 against the euro, a level not seen since October 2010. The aussie may face next support level around 1.45.

The aussie fell to a 1-week low of 89.09 against the yen, compared to yesterday's close of 89.55.

by RTTNews Staff Writer

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