Free Trial

Chinese Data Take Focus After AUD Loses Ground

AUD

AUD was among the worst G10 performers Thursday, despite showing a modicum of strength in early trade. The greenback's recovery dragged the rate lower, making it erase the prior day's gains. AUD/USD still trades higher on the week.

  • Q1 PPI & private sector credit headline the local docket today, with the latest PMI data from China also in focus.
  • Next week's highlights include Australia's final Markit M'fing PMI, Melbourne Institute Inflation & ANZ job ads (Monday), trade balance, housing finance data & RBA MonPol Decision (Tuesday), building approvals (Wednesday), speech from RBA's Debelle (Thursday) & RBA SoMP (Friday).
  • AUD/USD last sits +5 pips at $0.7771. A clearance of yesterday's high of $0.7818 would expose Mar 18 high of $0.7849. On the downside, initial focus falls on Apr 22 low of $0.7691, a key near-term support.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.