Australian Dollar Trades Lower After China’s Services PMI Disappoints

The Australian dollar traded a bit lower today following the release of disappointing macroeconomic data for China.

The Caixin China General Services PMI slumped from 52.7 to 50.6 in September. Experts were completely wrong with their predictions of an increase to 53.1. The reading was the lowest since December 2015.

AUD/USD slid from 0.7769 to 0.7758 as of 15:15 GMT today. EUR/AUD rose from 1.5093 to 1.5128.

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