AUD flips the switch to bid on China stimulus hopes up

  • China's PMI leading to talk of more stimulus, benefiting FX like AUD & commodities like oil

The poor China data earlier:

After it hit there was a small response lower for AUD (a key China-proxy trade) and also oil on demand concerns:

The thing about poor data from China is it doesn't usually take long to kick start talk of more stimulus to come. That's begun and AUD, and oil, as two examples are catching a bit of a bid on this chatter.

AUD/USD:

aud china pmi stimulus 30 November 2023

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