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      China Sept Caixin flash PMI misses expectations, lowest since March 2009

      FXStreet (Mumbai) - Chinese manufacturing activity contracted for the seventh month in a row and also missed expectations in September, the latest gauge on Chinese factory activity showed.

      The Caixin-Markit China Manufacturing Purchasing Managers' Index (PMI) dropped to 47.0 against a 47.3 final reading booked in August. Markets had predicted the preliminary data to show a rise to 47.6 in September.

      The reading is the lowest level seen since March 2009.

      A reading below 50 in the Caixin-Markit index signals a contraction in activity, while a reading above 50 - last seen in February - signals an expansion.

      China Caixin Manufacturing PMI below forecasts (47.5) in September: Actual (47)

      China Caixin Manufacturing PMI below forecasts (47.5) in September: Actual (47)
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      AUD/USD is on the offer and has made a low of 0.7038 so far, dropping 35 pips on recent trade. AUD/USD has dumped on the back of on the back of the Chinese data miss, lowest since March 2009.
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