PERTH: The Australia and the New Zealand dollars weakened against their major currencies in the Asian session on Friday, after data showed that China’s manufacturing sector continued to contract in July and at an accelerated pace.
Data from Caixin showed that China’s manufacturing sector continued to contract in July and at an accelerated pace, with a flash PMI score of 48.2. That was well shy of forecasts for a score of 49.7, and it was down sharply from 49.4 in June.
Among the individual components, the manufacturing output index slipped to a 16-month low score of 47.3 – down from 49.7 in June.
The Australian dollar fell to a 6-year low of 0.7268 against the U.S. dollar and a 9-day low of 0.9482 against the Canadian dollar, from yesterday’s closing quotes of 0.7349 and 0.9581, respectively.
Against the yen and the euro, the aussie dropped to more than a 2-week low of 90.09 and a 7-month low of 1.5087, from yesterday’s closing quotes of 91.09 and 1.4920, respectively.
The aussie slipped to a 10-day low of 1.1065 against the NZ dollar, from yesterday’s closing value of 1.1124.
