The Aussie surrendered to pressure from the weak Chinese releases over the weekend and fell below the 0.90 level. It came after a struggle during the Asian session, but as traders in Europe arrive, the level is gone — more coming New motor vehicle sales dropped by 1.8% in Australia during August and the drop reported in July was revised to the downside: from 1.3% to 1.5% according to the new data. This added a bit more pressure, but it wasn’t the main trigger. China, Australia’s No. 1 trade partner, reported a y/y rise of only 6.9% in industrial output during the month of August – the worst since 2008. This added to already falling prices of iron ore. The new low is 0.8989. The pair hasn’t gone too far, but the weekend gap is certainly visible on the chart and doesn’t bode well for the A$. These are the lowest level since March. Further levels below are 0.8910 and 0.8820 and 0.8740. On the topside, 0.9060 could stop a recovery attempt. For more, see the AUD to USD forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next The World MoneyShow Toronto–October 16-18 Yohay Elam 8 years The Aussie surrendered to pressure from the weak Chinese releases over the weekend and fell below the 0.90 level. It came after a struggle during the Asian session, but as traders in Europe arrive, the level is gone -- more coming New motor vehicle sales dropped by 1.8% in Australia during August and the drop reported in July was revised to the downside: from 1.3% to 1.5% according to the new data. This added a bit more pressure, but it wasn't the main trigger. China, Australia's No. 1 trade partner, reported a y/y rise of only 6.9% in industrial output… 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.
