Asian currencies, the Aussie dollar and New Zealand traded steady after being shown better -than -expected readings of Chinese economic data.
Data from the National Bureau of Statistics (NBS) reported China’s manufacturing PMI index rose to its highest level this year in March, after recording a decline in the previous month.
This indicates a recovery in the manufacturing sector as domestic consumption and global demand continue to show increases.
In certain industries, professional equipment, internet telecommunications electronic equipment and non -metallic mineral products all recorded new orders above 55%, indicating a relatively quick recovery, the NBS reported.
Ahead of the opening of the European session, the Aussie dollar traded slightly lower around 0.7600, while the kiwi traded at 0.6980 against the strong US dollar.
Even so, Aussie dollar trading may face new pressures due to delays in vaccination programs in Australia. The country failed to meet its target of providing 4 million Covid-19 vaccines by March 31, with a shortfall of 3.4 million doses.
This has drawn criticism of the Australian government, compounded by the implementation of a lockdown in Brisbane after there were several Covid cases detected in the province.
