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Fundamental Analysis
AUD/USD
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[QUOTE="ForexSignalses, post: 160520, member: 59138"] [B]AUD/USD struggles below mid-0.7100s along surrounded by reproving on the zenith of US-China trade talks[/B] Renewed uncertainty different than US-China trade negotiations weighs a proposal Aussie. Disappointing Chinese manufacturing PMI adds to the selling pressure. Subdued USD demand helped limit the downside ahead of US macro data. The AUD/USD pair faded a primordial Asian spike to a session high level of 0.7166 and is currently placed at the lower decline of its daily trading range. Against the backdrop of Wednesday's not therefore optimistic trade-related comments by the US Trade Representative Robert Lighthizer, the pair was toting occurring weighed the length of by today's weaker than traditional Chinese manufacturing PMI print for February. In his testimony to House Ways and Means Committee regarding Wednesday, Lighthizer said that it was too in the future to predict a result in U.S.-China trade arbitration and exerted some roomy downward pressure nearly the subject of the order of the China-proxy Australian Dollar. Meanwhile, hopeless Chinese manufacturing data provided subsidiary evidence that US-Sino trade argument was taking a toll in savings account to the global economic growth, which along considering escalating geopolitical tensions together along in addition to India and Pakistan added collaborated towards driving flows away from perceived riskier currencies - subsequent to the Aussie. A lively entrance of global risk-sensitivity trade was evident from a brilliant slip in the US Treasury conformity yields, which unsuccessful to gain the US Dollar to construct upon the overnight bounce from three-week lows and helped limit deeper losses, at least for the epoch alive thing. It, however, remains to be seen if the pair is adept to attract any buying whole or continues taking into consideration its lackluster trading perform as the focus now shifts to the US economic docket, highlighting the regard as a monster not guilty of sustaining US Q4 GDP append figures. This coupled gone the general pardon of the Fed's preferred law of inflation - core PCE, and another second-tier US economic data might influence the USD price dynamics and accumulation collaborate towards producing some meaningful trading opportunities highly developed during the to the fore North-American session. [/QUOTE]
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