# Market update: Australian dollar spikes after China PMI beat | IG AU

> The Australian dollar rose briefly after China's August manufacturing PMI came in at 49.7, above the 49.4 expected. The non-manufacturing PMI slowed to 51.0. Analysts said the data was still broadly underwhelming.

- Date: 2023-08-31 · published 2023-08-31T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/34854-market-update-australian-dollar-spikes-after-china-pmi-beat-ig-au
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Signs of stabilising Chinese activity support the Australian dollar, since China is Australia's largest export market. Improved Chinese demand expectations can modestly support commodity demand.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- ig.com: https://www.ig.com/au/news-and-trade-ideas/market-outlook--dollar-spikes-after-china-pmi-beat-and-can-aud-u-230831

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.