AUD/USD picks up the bids from 0.7117 after China’s Caixin Manufacturing PMI rose beyond 51.3 to 52.8. US dollar keeps Friday’s recovery gains amid hopes of further stimulus, stabilization in the virus figures. Victoria’s strict lockdown conditions also weigh on the quote. US PMIs, risk catalysts will be the key to watch. AUD/USD bounces off intraday low of 0.7117 to 0.7132 after China released its private gauge of manufacturing during the early Monday. Even so, the pair registers 0.13% loss on a daily basis as the US dollar extend Friday’s recovery moves from a two-year low. Earlier during the day. Australia’s AiG Performance of Mfg Index and Commonwealth Bank Manufacturing PMI flashed upbeat results for July. Further, TD Securities Inflation also rose past-0.7% YoY to 1.3% for the said month. Risk catalysts remain sluggish as Victoria keeps struggling with the coronavirus (COVID-19). Though, pandemic conditions seem to recede in the US and Tokyo off-late. Elsewhere, American Senators failed to agree on the much-awaited extension of the unemployment claims benefits as they expire on Friday. The talks are underway but the House Speaker Nancy Pelosi recently cited pessimism terming US President Donald Trump as the key hurdle for the aid plan. Even so, the market’s risk-tone sentiment remains positive with the S&P 500 Futures extending Friday’s gains beyond 3,250 and stocks in Asia-Pacific also stay in mild profits. Further, the US 10-year Treasury yields rise 1.8 basis points (bps) to 0.554% by the press time. Moving on, US PMIs from the ISM and Markit will be the key data to watch for immediate direction. On the other hand, virus updates, US stimulus news could offer fresh impetus. Technical analysis In addition to 10-day EMA near 0.7125, the 0.7065/60 rest-zone, comprising the high of June 10 and July 24, also restricts the pair’s near-term downside. However, bulls are asking for a clear break above 0.7200 to attack 2019 high near 0.7300. 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 AUD/JPY fails to cheer upbeat China Caixin PMI FX Street 3 years AUD/USD picks up the bids from 0.7117 after China’s Caixin Manufacturing PMI rose beyond 51.3 to 52.8. US dollar keeps Friday’s recovery gains amid hopes of further stimulus, stabilization in the virus figures. Victoria’s strict lockdown conditions also weigh on the quote. US PMIs, risk catalysts will be the key to watch. AUD/USD bounces off intraday low of 0.7117 to 0.7132 after China released its private gauge of manufacturing during the early Monday. Even so, the pair registers 0.13% loss on a daily basis as the US dollar extend Friday’s recovery moves from a two-year low. Earlier during the day.… 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.
