The Australian Dollar is getting cheaper. Overview for 30.09.2019

AUDUSD is retreating under pressure of the strengthened “greenback”.

The Australian Dollar is losing positions against the Usd early in the week. The current quote for the instrument is 0.6752.

The statistics published by China in the morning were mostly positive. The Caixin Manufacturing PMI rose to 51.4 points in September, which is much better than 50.4 points the month before. The Manufacturing PMI added 0.3 points this month, going from 49.5 points to 49.8 points. The Non-Manufacturing PMI dropped a little bit, from 53.8 points to 53.7 points. 

Numbers from China are very important for Australia, because China is its key trade and economic partner. 

The key highlight in the financial world right now is the non-resumption of US-China trade talks. While these two giant economies are dividing the world’s sales market, other participants of the global trade are suffering as well. 

Tomorrow, the Reserve Bank of Australia is scheduled to have another meeting, where it is highly anticipated to cut the rate from 1.00% to 0.75%. in general, the Aussie is ready for this scenario, but may fall at the time of market emotions in response to the RBA’s comments.