The purchasing managers’ index (PMI) for China’s manufacturing sector dropped to 50.4 in July from 50.9 in June, the latest data published by the National Bureau of Statistics (NBS) showed Saturday. The actual data missed the consensus estimate of 50.8.
Meanwhile, the Non-Manufacturing PMI eased slightly to 53.3 in July from 53.5 in June. A reading above 50 indicates expansion, while a reading below suggests contraction.
Discouraging NBS PMI numbers could strengthen the offered tone around the Aussie dollar, which could drag AUD/USD further towards 0.7300.