AUD/USD has hardly moved after the release of China’s Caixin manufacturing PMI. The escalating US-China trade tensions could hurt the Aussie dollar and risky assets. China’s Caixin manufacturing PMI, which focuses more on the small and medium-sized export-oriented units, fell to an eight-month low of 50.8 in July as expected. The data comes a day after the release of the disappointing official PMI but has not had any impact on the AUD/USD. At press time, the currency pair is reporting marginal losses at 0.7416. A source told Reuters earlier today that the US is considering raising tariffs. The bears may make a strong comeback if the Trump administration raises tariffs to 25 percent from 10 percent on $200 billion of imported Chinese goods. The AUD may also feel the pull of gravity if the Chinese yuan tanks on fears of escalating US-China trade war. AUD/USD Technical Levels Resistance: 0.7429 (session high), 0.7457 (50-day MA), 0.7484 (July 10 high). Support: 0.74 (5-day MA), 0.7370 (July 27 low), 0.7318 (July 20 low). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next China Press: Chinese economy faces substantial economic slowdown pressures FX Street 5 years AUD/USD has hardly moved after the release of China's Caixin manufacturing PMI. The escalating US-China trade tensions could hurt the Aussie dollar and risky assets. China's Caixin manufacturing PMI, which focuses more on the small and medium-sized export-oriented units, fell to an eight-month low of 50.8 in July as expected. The data comes a day after the release of the disappointing official PMI but has not had any impact on the AUD/USD. At press time, the currency pair is reporting marginal losses at 0.7416. A source told Reuters earlier today that the US is considering raising tariffs. The bears… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
