The Australian Dollar was upset by the Chinese statistics. Overview for 31.10.2017

The AUD/USD pair is falling on Tuesday; investors are analyzing the statistics from China.

The Australian Dollar is weakening against the USD on Tuesday morning. The current quote for the instrument is 0.7684.

The statistics published by China in the morning showed that the NBS Manufacturing PMI decreased up to 51.6 points in October after being 52.4 points in September. The Non-Manufacturing PMI fell from 55.4 points (the September reading) to 54.3 points this month.

The reports reflect the changes in the legislation related to using mineral; resources and environment. For example, the government tightened the requirements for the manufacturing sector enterprises concerning water disposal and recycling of wastes and, as a result, they had to reduce their manufacturing activity in order to adapt to new laws.

The Chinese statistics is very important for the Aussie, because China was and is Australia’s major trade and economic partner.

Despite the fact that the Aussie has got more stable recently (excluding today’s short-term decline), still it lost about 2% in October.

RoboForex Analytical Department