The Australian dollar on Thursday dove in value on Thursday against each of its 16 major rivals on Thursday after China, the biggest destination of its exports, released weaker-than-expected data, according to Bloomberg.
Australian bonds set for maturity in 2017 fell on Thursday after rising on Tuesday and Wednesday. The HSBC Holdings Plc and Markit Economics purchasing mangers' index for Chinese manufacturing registered at 49.6 this month, but that data is considered preliminary. The metric notates expansion if it is 50 or higher.
"The Aussie is holding up," analyst Takuya Kawabata with Gaitame.com Research Institute Ltd. in Tokyo told the news source prior to the release of data about manufacturing data in China. "Speculation of an immediate rate cut has receded, though the RBA continues accommodative policy."
The Australian dollar dropped about 0.6 percent against the world's reserve currency on Thursday after having achieved gains of 0.5 percent on Wednesday.
The Aussie touched its top value in seven days during the Wednesday trade session, according to Reuters. But this year for the Aussie, and the Canadian dollar, is likely to be weak.
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