China PMI: Manufacturing, Services PMI both miss, Aussie exposed to shortside risks

Chinese Manufacturing and Services PMI came in at a miss, and market reaction looks set to send the Aussie lower for it.

• China Manufacturing PMI in at 50.3, forecast was for 51.2, previous figure 51.3.
• China Services PMI in at 54.4, forecast 55.0, previous figure 55.3.

Both PMIs came in lower than forecasts and with Manufacturing PMI barely hanging on to growth balance (sub-50 figure implies economic contraction), the Aussie can expect to get punished as markets trade the knock-on effects of an economic miss for Australia's largest trading partner, China. 

Market analysts were anticipating a contraction in figures, but a wider-than-expected miss will pull some itchy short triggers.