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16 Dec 2014
AUD/USD making fresh lows post China PMI miss below 50
FXStreet (Guatemala) - AUD/USD is trading at 0.8221, up 0.13% on the day, having posted a daily high at 0.8230 and low at 0.8200.
AUD/USD dropped to mark a fresh four year low post the HSBC manufacturing PMI miss that printed below the 50 number and missed expectations. This adds further woes to the outlook for the Chinese economy and weighs on the Aussie as we head in closer towards the close of 2014 through the remaining final data for the year.
The pair dropped on the release and almost penetrated the 0.82 handle where the pair has been testing the bulls nerves with for the best part of overnight trading. The low was scored but demand and protection took the pair back up to familiar levels where the pair was changing hands before the release of the data after a less dovish minutes supported the pair with no signs of an intended rate cut at the start of the year from the RBA. However, the continued jawboning left traders cautious. Stevens would prefer the Aussie down at 0.75c. A break and decent closes of 0.82 opens up risk towards June 2010 0.8080 and 0.8068 2010 low.
AUD/USD dropped to mark a fresh four year low post the HSBC manufacturing PMI miss that printed below the 50 number and missed expectations. This adds further woes to the outlook for the Chinese economy and weighs on the Aussie as we head in closer towards the close of 2014 through the remaining final data for the year.
The pair dropped on the release and almost penetrated the 0.82 handle where the pair has been testing the bulls nerves with for the best part of overnight trading. The low was scored but demand and protection took the pair back up to familiar levels where the pair was changing hands before the release of the data after a less dovish minutes supported the pair with no signs of an intended rate cut at the start of the year from the RBA. However, the continued jawboning left traders cautious. Stevens would prefer the Aussie down at 0.75c. A break and decent closes of 0.82 opens up risk towards June 2010 0.8080 and 0.8068 2010 low.