The Australian dollar is having a bad day
21.08.2014
On Thursday the AUD/USD pair is trading with a significant decrease after weak Chinese statistics.
Today the Australian dollar is trading with a noticeable decrease. The AUD/USD pair has a good reason for this - the morning statistics from China, their largest trade and economic partner, came out weak and brought back the market talk about what would happen if the Asian neighbours actually did slow down in their growth rate?
Thus, the index of business activity in the industry in China, according to the calculations of HSBC, in August fell to 50.3 points against 51.7 points in July. These are objective, so a discount on the error calculation is difficult to make: in the polls, the opinion of at least 400 managers of this segment, and evaluation components are very versatile.
Thus, the index of business activity in the manufacturing sector in China is getting closer to the line of 50 points, which will indicate a decline in the segment. Usually the preliminary calculation of HSBC is objective enough, so it is difficult to expect a serious revision.
Why has Australia become so agitated? The indicator of the health of the industrial sector adequately reflects market conditions, and this is serious for the partners.
The morning decline in the AUD/USD pair has already partially played out, but the sentiments remain minor.
RoboForex Analytical Department
Today the Australian dollar is trading with a noticeable decrease. The AUD/USD pair has a good reason for this - the morning statistics from China, their largest trade and economic partner, came out weak and brought back the market talk about what would happen if the Asian neighbours actually did slow down in their growth rate?
Thus, the index of business activity in the industry in China, according to the calculations of HSBC, in August fell to 50.3 points against 51.7 points in July. These are objective, so a discount on the error calculation is difficult to make: in the polls, the opinion of at least 400 managers of this segment, and evaluation components are very versatile.
Thus, the index of business activity in the manufacturing sector in China is getting closer to the line of 50 points, which will indicate a decline in the segment. Usually the preliminary calculation of HSBC is objective enough, so it is difficult to expect a serious revision.
Why has Australia become so agitated? The indicator of the health of the industrial sector adequately reflects market conditions, and this is serious for the partners.
The morning decline in the AUD/USD pair has already partially played out, but the sentiments remain minor.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.