Australia’s S&P Global / Markit Manufacturing PMI for October

Comments from Markit

  • The latest Australian Manufacturing PMI reflects that.
    continued expansion at the start of the fourth quarter;
    Although growth has slowed since September.
    There is overseas demand for Australian-made products.
    It was evident that the rate of growth had slowed to almost a standstill.
    positively; The delivery times of the suppliers were long.
    The slowest rate ever COVID-19

    Covid-19 or Novel Coronavirus is a pandemic that has caused economic instability and volatility across financial markets in 2020. The first cases of Covid-19 were reported in late 2019 in China. Reported in Wuhan. Since then, the virus has spread worldwide. It infects millions worldwide. The virus is highly controversial and has become a major political issue in the United States during the 2020 presidential election. The Covid-19 epidemic is completely unprecedented in modern times. A recent example was the influenza outbreak of 1918. Financial markets and global economies were completely unprepared for the scale of the virus, resulting in massive shutdowns; causing unemployment and other hardships. Efforts to contain and mitigate the virus. How is Covid-19 affecting the markets? Almost every property has been affected in some way by Covid-19. In the beginning, Financial markets and equities collapse as March 2020 nadir hits in America and Europe. Widespread lockdowns have brought the economy to a standstill, prompting stimulus programs to keep local businesses operating. The result of this is that currencies such as the US dollar fall as the central bank prints billions of dollars to contain economic losses. Forex markets have experienced historic levels of volatility, leading some to categorize the Covid-19 pandemic as a Black Swan event. Although the economic recovery is contingent, most recover in 2020 when financial markets are writing. Currently, Unemployment and other indicators remain problematic, while infection rates are rising. It illustrates additional monetary policy action or stimulus in both Europe and the US. Although several companies such as Pfizer and Moderna are close to developing an effective vaccine, there is still no vaccine for Covid-19.
    Read this expression. Happening all over the world
    Prices were hit while rising to record lows.
    Since early 2021. It is recommended to relax these things.
    Although there are limitations in the manufacturing sector
    Some reports of buying activity remain.
    Little was affected by supply problems.
    Economic sentiment is also showing signs.
    Turnover with a boost in business confidence
    The September low is a positive sign for the sector.
    Progress in the near future.

AUD/USD was little changed on the data release.