The AUD/USD pair extended downside to near the round-level support of 0.6400 in the early New York session. The Aussie asset faces selling pressure as
Caixin Manufacturing PMI for September failed to match expectations but managed to remain above the 50.0 threshold. A figure below the 50.0 threshold is considered a contraction in economic activities. The economic data landed at 50.6 lower than estimates and the August reading of 51.2 and 51.0 respectively. extends its recovery to near 106.60 as the market mood remains downbeat after China’s weak factory activity data.
In an alternate scenario, a decisive break above August 15 high around 0.6522 will drive the asset to August 9 high at 0.6571. Breach of the latter will drive the asset towards August 10 high at 0.6616.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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