AUD News 

AUD/USD recovers but it’s capped

“The independent forward-looking gauge of the Chinese economy, the Caixin Manufacturing PMI, beat expectations and hit 49.9 points, just under the 50-point threshold that separates expansion from contraction” writes Yohay’s Google Profile for forexcrunch.com. The latest US data already missed expectations with Personal Spending falling by 0.5% and Personal Income by 0.1%.The number even came out better than the official government PMI. The good news from Australia’s No. 1 trading partner supported the A$. Source: forexcrunch.com

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AUD News 

AUD/USD takes a look under 0.71 as aussie woes continue in the new day

“There’s just no relief for the aussie as it continues to be pressured with AUD/USD now taking a peek just under the 0.7100 handle” reports forexlive.com. Near-term sentiment remains bearish for the pair as traders continue to wait on developments from US-China trade talks. Those will be key levels in keeping the pair afloat moving forward and I reckon it will be an area that sellers will look to take some money off until more clarity is seen on trade talks. Source: forexlive.com

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AUD News 

Will AUD/USD recapture its seasonal support this February month?

“In that light, don’t expect much from the seasonal trade above this year” reports forexlive.com. Even if AUD/USD were to rise this year, I would argue that is owes more to other developments than the seasonal trade flow seen above. It’s all about the direction of trade talks at this point in time so be wary not to get caught out chasing shadows.The most important of which would be how US-China trade talks develop in the coming weeks. Source: forexlive.com

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AUD News 

AUDUSD backs off from 200 day MA.

“Looking at the 5-minute chart intraday price below, the price has moved below the 100 bar MA and a trend line (more bearish)” reports forexlive.com. The 0.7285 last swing high may also be a risk intraday to preserve some profit from shorts from above.  The lean level held (I guess its “a wall” – maybe I’ll start using that), and the price is trading lower. Source: forexlive.com

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AUD News 

AUD/USD runs into key near-term resistance as focus turns towards US payrolls

“That said, I would not expect risk assets to rally too much given a potential for the tides to turn following the release of the US payrolls” reports forexlive.com. However, even if risk suffers later on in the day, AUD/USD may not necessarily be hammered outright.Looking at the bigger picture, the 0.7000 handle remains a key psychological handle and will be one that gets called into question again if risk turns sour later. Something to consider as we get closer towards the US payrolls later in the day.Markets will be…

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AUD Markets News 

Australian GDP growth may slow, but AUD/USD remains bullish

“A mediocre growth rate of 0.4% or lower would already cause a rethink. 0.4% QoQ is below 2% annualized and could push the yearly growth rate to around 3% or below” writes Yohay’s Google Profile for forexcrunch.com. All in all, the Aussie is enjoying an uptrend and a slowdown in growth is unlikely to change that.Australia publishes its Gross Domestic Product for the third quarter of 2018 on Wednesday, December 5th, at 00:30 GMT. The Australian economy enjoyed a robust growth rate of 0.9% QoQ and 3.4% YoY in Q2.So,…

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