Home » Money

Australian Dollar Unable to Keep Gains Caused by China's PMI

04 July, 2017, 00:32 | Author: Paula Vaughn
  • Australian Dollar Unable to Keep Gains Caused by China's PMI

The UK manufacturing PMI dropped to 54.3 in June, its lowest figure in three months and well below expectations of a reading of 56.5. New orders received by consumer goods firms continued to rise strongly, while capital goods producers recovered from May's contraction.

Behind the improvement was a rise in new orders for only the second time in nearly three years, although the rate of expansion was fractional.

A reading above 50 on the index indicates expansion.

Meanwhile, increase in new work volumes fell to their weakest in the 11 months of gains - and although manufacturers have made the most of weak sterling in recent months, they reported growth in new export business had also slowed.

Managers' Index, PMI, stood at 52.9 index points in June 2017 up from 52.2 index point in May. The service sector accounted for more than half of the Chinese economy past year. This was primarily due to weaker domestic demand, but it is disappointing to see that export orders slowed.

United Kingdom manufacturing activity came in below expectations in June, with the latest snapshot survey showing a moderation in the rate of growth.

Australian Dollar Unable to Keep Gains Caused by China's PMI
Australian Dollar Unable to Keep Gains Caused by China's PMI

The pickup is consistent with other indications that economic growth in the currency area accelerated in the three months to June, having already speeded up in the first quarter.

The Eurozone periphery bonds gained Monday on rising demand for safe-haven assets and as investors have largely shrugged off the slightly higher-than-expected German manufacturing PMI for the month of June.

"Having endured a miserable start to 2017, the latest survey data is welcome news for Greek manufacturers as the PMI pointed to growth for the first time since August previous year", said IHS Markit economist Alex Gill.

Nevertheless, overall confidence did weaken to a 7-month low as uncertainty surrounding the political outlook and Brexit talks increased once again.

The arts, entertainment & recreation and public administration sub-sectors remained unchanged, while the remaining 3 sub-sectors recorded growth in the order: management of companies; construction; professional, scientific, & technical services.

Man arrested in connection to missing scholar; Zhang presumed dead
ABC News reported that Yingying Zhang was last seen three weeks ago, on June 9, at a bus stop near the University of IL campus. On Thursday, agents who had Christensen under surveillance heard the suspect admit he had abducted Zhang .

Recommended:

  • Aston Villa Deserve Premier League Status - John Terry Setting Sights On Promotion

    I'm very hungry to still play at the top at a club that has got the same ambition as me to win and get promoted. We have a good set of players capable of getting back into the Premier League .
    State Budget Passes House...Hurdles Remain

    State Budget Passes House...Hurdles Remain

    Also, state-funded construction projects would be halted and the state's credit rating would likely be downgraded to junk status. Cardenas said the lack of a budget affects the state's roads and traffic lights, because there's no money to fix them.
    Sikkim standoff: China map claims disputed area with India, Bhutan

    Sikkim standoff: China map claims disputed area with India, Bhutan

    The kingdom of Bhutan lies on the northern side of the corridor and the neck is considered both lifeline and underbelly of the NE. It shows that China fixes the trijunction far south of where India and Bhutan do, which explains the current stand-off.
  • Wizards offer John Wall $168 million 'supermax' contract

    Wizards offer John Wall $168 million 'supermax' contract

    The actual amount for the max offer sheet will approximately be a touch over $106 million, according to Cole Zwicker . Porter really came into his own previous year , showing the world why he was picked at No. 3 overall in 2013.
    28 injured in Arkansas night club shooting

    28 injured in Arkansas night club shooting

    Little Rock Mayor Mark Stodola called on the public to refuse to patronize clubs that glamorize violence . City officials in Little Rock suspended the club's license for allowing underage patrons into the club.
    Push continues on Senate health bill; repeal-only vote a possible option

    Push continues on Senate health bill; repeal-only vote a possible option

    Conservatives complain that McConnell's bill doesn't go far enough in repealing President Barack Obama's health care law. But the tweet came amid continuing signs of GOP disagreement among moderates and conservatives over the bill.
  • Venus Williams 'heartbroken' over fatal crash

    Venus Williams 'heartbroken' over fatal crash

    Witnesses say the Barson's vehicle , which T-boned Williams auto , could not avoid hitting Williams's SUV. Williams told cops she ended up being stuck in the middle of the intersection because of other traffic.
    GST will improve India's image as investor friendly country: ASSOCHAM president

    GST will improve India's image as investor friendly country: ASSOCHAM president

    Many traders were confused about GST and during the seminar they raised many questions which were answered by the officials. Now that GST is implemented and there's no way back, customers seem to have started accepting the new change in tax regime.
    World leaders gather to honour Kohl

    World leaders gather to honour Kohl

    World leaders and ordinary Germans have bid farewell to Helmut Kohl , the former chancellor who steered his country toward reunification in 1990.
  • Missing DFW teenager found dead, Amber Alert canceled

    Missing DFW teenager found dead, Amber Alert canceled

    Authorities have since provided limited information, including her speculated cause of death or motive for the crime. Police are still searching for Michael Titus , who is a suspect related to Randle's disappearance .

    Emmanuel Macron vows to 'eradicate' Mali kidnappers of Sophie Petronin

    He said the force, which is expected to consist of around 5000 troops, needed to be fully operational by this autumn. France intervened to chase out jihadists linked to Al-Qaeda who had overtaken key northern cities in Mali in 2013.
    A Trump/CNN WWE video was posted on Reddit before Trump tweeted it

    A Trump/CNN WWE video was posted on Reddit before Trump tweeted it

    On Saturday, Trump took his media bashing to the public space as well, speaking at a veterans' event in Washington D.C. Navarro, a Republican who is fiercely critical of the president, is a commentator on both CNN and ABC.


Popular

White House shared the salaries of its staffers
Half the 200 men working at the White House make $115,000 or more annually, while half the 177 women earn $75,000 a year or less. Around 47 percent of the 359 regular employees at the White House are women - and 53 per cent men.

Gang-rape survivor attacked with acid for fourth time
She has lodged at least eight FIRs against the two accused and their accomplices, according to the Hindustan Times . The woman and her family allege the acid attacks are being orchestrated by people known to the gang-rape accused.

Rapper Kanye West leaves Jay Z's Tidal over money issues
According to reports , Kanye West has left the company over a financial disagreement, and Tidal has threatened to sue the West. The 47-year-old goes on: "But you ain't the same, this ain't KumbaYe / But you got hurt because you did cool by Ye ".

Novak Djokovic and Karolina Pliskova triumph at Devonshire Park
Playing at Wimbledon and playing at any other tournament, as a matter of fact, gives me a lot of joy, and I think that's the key". Djokovic set about putting Monfils under pressure right away and was rewarded with a break in the first game of the match.

JJ Redick agrees to 1-year, $23M contract with Sixers
The former Duke star, who previously played for the Orlando Magic and Milwaukee Bucks, struggled this year in the playoffs. The 11-year veteran shot 42.9 percent from three last season, a year after leading the league with a 47.5 percent mark.