Business conditions in the Australian manufacturing sector rises 9.9 points

Business conditions in the Australian manufacturing sector has risen 9.9 points.

AUD is unchanged on the release. 

AUD outlook

Second-tier Aussie data, China Caixin Manufacturing PMI in focus while AUD/USD bulls catch a breather around 5-day high after witnessing heavy gains in the second quarter (Q2).

• AUD/USD kick-starts Q3 around 0.6900, eyes China Caixin Manufacturing PMI
• DXY: Bears looking to bearish wedge breakout, encouraged by COVID-19 second wave
• AUD/USD Forecast: Holding in range, bulls still surging on dips

Description AiG performance of the Mfg Index

AiG performance of the Mfg Index released by the Australian Industry Group presents business conditions in the Australian manufacturing sector. The group surveys 200 manufacturers on their assessment of the business situation including employment, production, orders, prices, and inventories, and their short-term planning. A result above 50 is seen as positive (or bullish) for the AUD, whereas a result below 50 is seen as negative (or bearish).