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1.Market Observations

23 Nov 2012 (AFR) – China data to push dollar higher

(23 Nov 2012, AFR, p21, Jane Searle)

‘The strongest result for Chinese manufacturing activity in 13 months is expected to further boost the Australian dollar, as demand recovers in our biggest export market. The HSBC PMI, an early indicator of manufacturing conditions in China, was at 50.4 in November – indicating a return to expansionary conditions. It comes as China economists forecast growth for the world’s second largest economy to be above 8 per cent in 2013, a dynamic which supports Australian exports.’

Read more at AFR.com (might need AFR login access)

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