Australian dollar falls on slowing China factory growth
THE Australian dollar is weaker after China's manufacturing growth fell to an eight-month low.
THE Australian dollar is weaker after China's manufacturing growth fell to an eight-month low.
At 0630 AEDT on Monday, the local unit was trading at 88.95 US cents, down from 89.56 cents on Friday.
In another sign the economy of Australia's largest trading partner is weakening, China's purchasing managers index for February tumbled to 50.2, to the lowest level since a June reading of 50.1, official figures released on Saturday show.
A figure over 50 indicates expansion while one below shows contraction.
###
Aussie shares rise on Wall St rebound
Aussie shares crept higher on Wednesday on the back of a Wall St rebound, despite a sharp sell off in heavyweight mining and energy stocks.
Aussie shares sink on China stimulus gloom
The Australian sharemarket fell on Tuesday following muted stimulus measures from China and a sharp pullback on Wall St.
Sign business spirits have lifted
One of Australia’s biggest banks has issued a warning about business confidence after the latest figures were revealed.