In the Australian Financial Review: Manufacturing performance hits eight-month high (gated)

Hitting an eight-month high is another way of saying the contraction isn’t as bad as before.

adding to signs last year’s Reserve Bank of Australia official interest rate cuts are gaining traction

Goldman Sachs Australia chief economist Tim Toohey said the RBA won’t cut the cash rate until July, scrapping a previous prediction for cuts next week and in May

Golman’s made that call after yesterday’s capex figures showed expected improvement in 2013/14.

Meanwhile, AUD/USD has finally had its bounce, around 1.0230 now. There are offers around here at present.