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2 Mar 2015
AUD/USD: short-term pressures relieved on Chinese data
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7786 with a high of 0.7809 and a low of 0.7777.
AUD/USD is currently bid on a better than expected Chinese HSBC Manufacturing PMI reading. The data came in 50.7 vs 50.1 and was back out of contracting territory that was previous and below the 50 at 49.7. This data has rescued the pair for the time being where the greenback was pressuring the board lower at the start of the week in Asia.
Meanwhile, and key this week will be the RBA decision. Will they or will then not cut again? The market holds a very dovish outlook for 2015 and analyst predict that if we don't see a cut this month, one will come over the next few months and this will keep the Aussie under pressure over the medium term, especially while below the psychological 0.8000 level.
AUD/USD is currently bid on a better than expected Chinese HSBC Manufacturing PMI reading. The data came in 50.7 vs 50.1 and was back out of contracting territory that was previous and below the 50 at 49.7. This data has rescued the pair for the time being where the greenback was pressuring the board lower at the start of the week in Asia.
Meanwhile, and key this week will be the RBA decision. Will they or will then not cut again? The market holds a very dovish outlook for 2015 and analyst predict that if we don't see a cut this month, one will come over the next few months and this will keep the Aussie under pressure over the medium term, especially while below the psychological 0.8000 level.