AUD/JPY drops below $90.00 as focus shifts to China’s official PMI data – by Sagar_Dua24 AUDJPY PMI Coronavirus BOJ Bonds
Covid-19 cases in China is forcing other nations to look for extremely safe measures for arrivals from China. A significant surge in Covid cases in China is impacting the Australian Dollar as trading activity could reduce led by further supply chain disruptions.
The expression of the reopening of China from January 2023 with the intention of easing supply chain bottlenecks has resulted in further disruptions. Major nations are demanding negative Covid reports of arrivals from China to safeguard themselves from the pandemic. Meanwhile, China’s Center for Disease Control and Prevention top epidemiologist Wu Zunyou warned at a briefing on Thursday, Covid is seen spreading throughout the holiday season.
Apart from the Covid situation, investors are getting uncertain about China’s official PMI data, which will release this weekend. As per the consensus, the National Bureau of Statistics Manufacturing PMI is seen higher at 49.2 vs. the former release of 48.0.
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