The Australian dollar had a rest during the weekend, but when trading resumed in New Zealand and Australia early in the week, so did the falls. AUD/USD is trading around 0.8730, a new low since February and ever closer to the cycle lows. The week opens as PIMCO, with Bill Gross out of the firm, saying that Chinese growth is likely to slow down to 6.5% and not the desired 7.5% target. And if the Chinese government says otherwise, a research using the Li Keiqang Index shows the weakest growth in China since the outbreak of the financial crisis. This index is based on electricity consumption, railway cargo and bank lending. Li is currently the Chinese PM and he reportedly said back in 2010 that Chinese GDP figures are man made and that he relies on these three measures. China is Australia’s No. 1 trading partner and any worries about slowing consumption of Australian commodities by China always sends shivers. In addition, we are seeing a resumption of the dollar advance also in other currencies, so this new low of 0.8726 for AUD/USD is not only and Aussie story at this point. The cycle low is 0.8660. Here are 5 reasons why AUD/USD could fall to 0.75 according to Dr. Doom.. And here is the chart below: 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 EUR/JPY Likely To Gain Traction Guest 9 years The Australian dollar had a rest during the weekend, but when trading resumed in New Zealand and Australia early in the week, so did the falls. AUD/USD is trading around 0.8730, a new low since February and ever closer to the cycle lows. The week opens as PIMCO, with Bill Gross out of the firm, saying that Chinese growth is likely to slow down to 6.5% and not the desired 7.5% target. And if the Chinese government says otherwise, a research using the Li Keiqang Index shows the weakest growth in China since the outbreak of the financial crisis. This… 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.
