Chinese Flash Manufacturing PMI (Purchasing Managers’ Index) is based on a survey of purchasing managers in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in China. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Thursday at 1:45 GMT. Indicator Background Traders should pay close attention to this key release, as China is Australia’s number one trading partner, and an unexpected reading can quickly affect the direction of AUD/USD. The December release dipped below the 50-point level, coming in at 49.6 points. This marked the first time since June that the reading moved below 50, which indicates contraction in the industry. A similar reading is expected for January, with an estimate of 49.4 points. Sentiments and levels The Aussie had another positive week, and is back trading above the 0.90 level. However, the RBA wants to see the currency trading at lower levels, so we could see RBA officials try to “talk down” the Australian dollar. In the US, employment numbers remain a concern, but the markets are content with the general direction of the US economy. So, the overall sentiment is neutral on AUD/USD towards this release. Technical levels, from top to bottom: 0.9442, 0.9283, 0.9180, 0.90, 0.8893 and 0.8728. 5 Scenarios Within expectations: 47.0 to 52.0: In such a case, AUD/USD is likely to rise within range, with a small chance of breaking higher. Above expectations: 52.1 to 56.1: An unexpected higher reading can send the pair above one resistance line. Well above expectations: Above 56.1: Given the current trend, the likelihood of a sharp expansion is low. Such an outcome would push the pair upwards, and a second resistance line might be broken as a result. Below expectations: 43.0 to 46.9: A sharper decrease than forecast could push AUD/USD downwards and break one level of support. Well below expectations: Below 43.0: A very poor reading could impact on the Australian dollar and push the pair below a second support level. For more on the Australian dollar, see the AUD/USD forecast. To follow this event live: [do action=”calendar-event” eventid=”80b0adcf-cfa9-4583-9d3a-f720a4a3f5fa”/] Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Opinions share Read Next UK unemployment rate rises to 7.2% – GBP/USD slides Yohay Elam 8 years Chinese Flash Manufacturing PMI (Purchasing Managers' Index) is based on a survey of purchasing managers in the manufacturing sector. Respondents are surveyed for their view of the economy and business conditions in China. A reading which is higher than the market forecast is bullish for the Australian dollar. Here are all the details, and 5 possible outcomes for AUD/USD. Published on Thursday at 1:45 GMT. Indicator Background Traders should pay close attention to this key release, as China is Australia's number one trading partner, and an unexpected reading can quickly affect the direction of AUD/USD. The December release dipped below… 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.
