It's a case of paying heed to the market reasction to news rather than the news itself today
The AUD, the world's favourite China proxy is up again after the poor Caixin Markit China Manufacturing PMI
Although, if you want to take the other side .... the result was better than the flash reading indicated it would be.
AUD/USD has gained around 60 points from session lows:
Stocks are higher around the region today also
Similarly, yen and euro both weaker. Risk me up!