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Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Australian Dollar is “in the black”. Overview for 01.09.2016
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The Australian Dollar is “in the black”. Overview for 01.09.2016

On Thursday afternoon, the AUD/USD pair continues its growth that starter yesterday; china provided support.  

The Australian Dollar is still growing slowly in the pair with the USD. The current quote for the instrument is 0.7532.

Today’s statistics from Australian was rather weak. According to AiG, the manufacturing PMI in August was 46.9 points and it’s much less than the important level of 50 points, which usually shows the difference between growth and decline. Retails sales in July didn’t change on a month-on-month basis, although they were expected to add 0.3% m/m.

Another statistics report showed that the capital spending in the private sector in Australian in the second quarter reduced up to -5.4% against the expected number of -4.2%.

Taken together, this statistics would result in sales of the Australia Dollar, but China saved the day. The country published tow PMI reports. The non-manufacturing PMI in August increased up to 53.5 points, which looks rather positive. The similar report from Caixin and Markit relating to the manufacturing sector showed the number of 50 points.

For China, which is busy solving several internal problems, today’s data on the PMI is estimated as positive. Some increased activities in manufacturing and non-manufacturing sectors may be a result of implementation of reforms and programs of motivation.
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