Chinese Data Misses Again: AUD/USD Falls
Just when we thought that China might be turning the corner is has put in another poor performance.
Rowan Crosby•Tuesday, April 30, 2019•1 min read
Just when we thought that China might be turning the corner is has put in another poor performance.
Manufacturing PMI misses at 50.1 with the expected at 50.5 and prior 50.5.
Non-manufacturing came in at 54.3, which was also a decent sized miss with the expected 55.0 and prior 54.8.
Naturally, the AUD/USD has fallen and was previously trading in the green on the session.
This might very well be the trigger for a fall to 0.7000 for the Aussie. There is so much talk of a rate cut in May or June, that the bearish factors are just continuing to stack up here.
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ABOUT THE AUTHOR
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Rowan Crosby
Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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