The main data set out yesterday was the Chinese manufacturing purchasing managers’ index, which was lower than expected. Poor performance from the dragon in the east puts additional fuel to the fire when it comes to the fear of a slowdown in growth for China. This has been a topic of conversation for some time now in the press, due to the significant ripple effects it could have on other countries’ economies and currency strength.
In other news, there has been further developments in the Crimean crisis, with further sanctions being imposed on both sides, Ukrainian forces retreating from the Crimean territory and Russia’s participation in the G8 being questioned.
Today is relatively quiet in terms of significant data releases, but the assistant governor at the Reserve Bank of Australia will provide us with some rhetoric which has the potential to spur movement in the Australian dollar against other currencies.
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