The Australian dollar is almost one US cent lower after figures from China showed manufacturing activity in the world's second largest economy slowed to an 11-month low in July.
At 6.30am AEST the local unit was trading at 91.69 US cents, down from 92.57 US cents at yesterday’s local close.
The China flash HSBC purchasing managers' index (PMI) for July, released on Wednesday, came in weaker than economists expected, falling to 47.7 from 48.2 in June.
Numbers below 50 on the 100-point scale show a contraction in activity.
Source:
http://www.theaustralian.com.au/business/markets/australian-dollar-drops-on-weaker-hsbc-china-flash-pmi-for-july/story-e6frg94o-1226684717236
