The PMI index for Australia published by AiG showed improvement from 51,7 in August to 52,1 in September.
The Australian dollar is advancing today by about 0,55%, taking the AUD/USD back above 0,70. However, it’s not only the print from Australia that is supportive for Aussie.
What may be more important, is the fact that Chinese PMI, both the Markit and the government one, showed improvement from the latest reading.
We can notice, that risk-on scenario has been triggered yet again. With the lack of trading sessions in China (for Shanghai Composite) we could expect couple of calmer, less volatile sessions.