AUDUSD continues to weaken amid the Fed's decision to keep interest rates unchanged at 5.50%.
Yesterday AUDUSD drew a long body bearish candlestick with small shadows at the top and bottom of the candlestick. The price formed a high point at 0.65595 and a low point at 0.64883.
Yesterday's US economic data showed the Fed kept interest rates unchanged at 5.50%, although the Fed may cut interest rates at the end of the year predicted in September.
Although jobless claims increased by 249K from the previous 235K, analysts expected 136K, much lower than expected which is not good for the USD.
Manufacturing PMI data was mixed, Final Manufacturing PMI 49.6 was slightly higher than the previous 49.5, still indicating contraction. ISM Manufacturing PMI 46.8 lower than previous 48.5, less supportive of USD strengthening>
ISM Manufacturing PMI showed 52.9 slightly higher than the previous 52.1, there was an increase in prices paid for goods and services.
The fall in AUDUSD was also influenced by the recent PBoC interest rate cut which weakened the Chinese yuan, which hurt the Australian dollar due to Australia's economic ties with China.
The RBA is also expected to keep interest rates at 4.35% at its upcoming meeting as recently published Australian inflation figures have reduced the likelihood of further tightening.
Today investors will focus on NFP data which is estimated at 176 thousand with the previous data being revised to 206 thousand. And the Unemployment Rate data is predicted to be 4.1% from the previous revision of 4.1%.
Yesterday AUDUSD drew a long body bearish candlestick with small shadows at the top and bottom of the candlestick. The price formed a high point at 0.65595 and a low point at 0.64883.
Yesterday's US economic data showed the Fed kept interest rates unchanged at 5.50%, although the Fed may cut interest rates at the end of the year predicted in September.
Although jobless claims increased by 249K from the previous 235K, analysts expected 136K, much lower than expected which is not good for the USD.
Manufacturing PMI data was mixed, Final Manufacturing PMI 49.6 was slightly higher than the previous 49.5, still indicating contraction. ISM Manufacturing PMI 46.8 lower than previous 48.5, less supportive of USD strengthening>
ISM Manufacturing PMI showed 52.9 slightly higher than the previous 52.1, there was an increase in prices paid for goods and services.
The fall in AUDUSD was also influenced by the recent PBoC interest rate cut which weakened the Chinese yuan, which hurt the Australian dollar due to Australia's economic ties with China.
The RBA is also expected to keep interest rates at 4.35% at its upcoming meeting as recently published Australian inflation figures have reduced the likelihood of further tightening.
Today investors will focus on NFP data which is estimated at 176 thousand with the previous data being revised to 206 thousand. And the Unemployment Rate data is predicted to be 4.1% from the previous revision of 4.1%.
