Earlier this week we had the:
- AIG manufacturing PMI for August bounce to 46.4 (vs. 42.0 in July)
- and the Australian services PMI for August fall to 39.0 (39.4 prior)
The construction PMI is not likely to have much of an impact on AUD, though it is another sign that the ‘transition’ the RBA is looking for from mining investment into other sectors of the economy is slow.
