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Fundamental Analysis
AUD/USD
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[QUOTE="ForexSignalses, post: 163776, member: 59138"] [B]AUD/USD Australian dollar could perspective pressure after soft Chinese manufacturing PMI[/B] AUD/USD is steady in the region of Tuesday, as the pair continues to trade quietly this week. Currently, the pair is at 0.7048, the length of 0.11% on the order of the hours of daylight. On the reprieve stomach, there are no major Australian happenings. Later in the daylight, Australia releases AIG manufacturing index. There was disappointing news out of China, as manufacturing PMI dipped to 50.1 in April, shy of the estimate of 50.7 points. This reading is barely above the 50.0 level, which separates fee from contraction. In the U.S., the Employment Cost Index remained steady at 0.7%, matching the estimate. Chicago PMI dropped snappishly to 52.6, the length of from 58.7 points in the previous official pardon. This missed the forecast of 59.1 points. CB Consumer Confidence was greater than before to 129.2, above the estimate of 126.2 points. On Wednesday, the U.S. releases ADP nonfarm payrolls and the Federal Reserve issues a rate announcement. The Australian dollar fell 1.5% last week, as a join up of soft Australian data and intelligent U.S. numbers sent the currency reeling. The Aussie could slope auxiliary headwinds, as the Chinese manufacturing PMI official pardon acid to stagnation. The Chinese slowdown has damaged the Australian economy, as the Asian giant is Australias number one trading gloves in crime. Weak Australian inflation in Q1 has raised concerns that the dovish RBA could scrape rates in order to alive the economy, perhaps as in advance as this summer. This will likely put extra pressure in credit to the Aussie, which tested the figurative 70 levels last week. The Federal Reserve has said it expects to conformity appeal rate levels for the land of the year, and the most recent inflation numbers will reinforce that stance. The Core PCE Price Index, which is the Federal Reserves preferred gauge for inflation, remains asleep the Feds want of 2.0%. The indicator came in at 0.0% in March and 0.1% in February (the two behavior were released on the order of Tuesday due to the overseer shutdown earlier this year). On an annualized basis, the indicator gained 1.6%, just bashful of the estimate of 1.7%. There was improved news from consumer spending, which jumped 0.9% in March, compared to the estimate of 0.7%. The sealed reading was an upshot of increased spending upon motor vehicles and health care. [/QUOTE]
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