AUD/USD extends recovery above 0.6500 on upbeat Caixin manufacturing PMI – by Sagar_Dua24 AUDUSD RBA PMI Inflation Fed
AUD/USD has pushed its recovery above 0.6500 after better than anticipated Caixin manufacturing PMI.
Higher expectations for one more interest rate hike from the Fed could keep the USD index in good shape.pair has attempted a recovery move as the IHS Markit has reported upbeat Caixin Manufacturing PMI data. The economic data has landed at 50.9, higher than the consensus and the prior release of 49.5. A figure above 50.0 bifurcates expansion and contraction phases and Chinese factory activities have landed in expansionary territory.
Investors should note that Australia is the leading trading partner of China and higher Chinese factory activity data supports the Australian Dollar. Meanwhile, S&P500 futures have surrendered their entire losses posted in early Asia. The risk profile has turned depressed as investors are shifting their focus back to theNonfarm Payrolls
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