DJIA25628.90
LIVE-623.34(-2.37%)
NDX7465.00
LIVE-242.43(-3.15%)

AUD/USD Hits Fresh Session High on Above-Forecast China Caixin Manufacturing PMI


Monday, 1 April 2019 09:27 WIB

AussieDolar Australia,AUD/USD,


c_740_198_16777215_00_images_assets_CURRENCY3_00Australian-dollar-versus-USD.jpg

AUD/USD hit a fresh session high of 0.7127 a few minutes ago, possibly in response to better-than-expected China data.

Caixin manufacturing PMI, which surveys the small and medium-sized export-oriented units, ticked higher to 50.8 in March, beating the expected reading of 49.9 by a big margin.

The return to expansionary territory (50) may alleviate concerns of a deeper slowdown in the world's second-largest economy. So far, however, the AUD is struggling to cheer the upbeat data. The seven-pip rise to fresh session highs seen post-PMI has been erased. As of writing, the pair is trading at 0.7121.

However, equities are flashing green - the futures on the S&P 500 are currently up 0.65 percent. Hence, the AUD could continue to grind higher during the day ahead, more so, as China's NBS PMI numbers, released over the weekend, also bettered estimates.

Further, TD securities' inflation gauge for March came in at 0.4 percent month-on-month earlier today vs 0.1 percent in February. The National Australia Bank's business conditions index for March also ticked higher to 7, beating the estimated drop to 2 by a big margin.

Source : FX Street


RELATED NEWS

  • The dollar slipped lower on Thursday as expectations for further Federal Reserve rate cuts waned, while the euro gained ground after Eurozone private sector data boosted hopes that the bloc's economy ...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.