The Aussie Just Got Smashed By Weak Chinese Data - But The Buyers Are In

Weaker than expected HSBC Flash Chinese PMI (50.4 v 50.9 expected) saw the Aussie fall below 93 cents from 93.25 to a low of 92.93 cents.

But it seems buyers still see value and the Aussie has rallied back above 93 cents.

It will be interesting to see what European PMIs print tonight and what European traders do later on this afternoon but for the moment the Aussie is holding in.

Greg McKenna is an active currency trader and is currently short the Aussie dollar.

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