Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Australian dollar goes down in Asia notwithstanding solid China PMIs
On Wednesday, the Australian dollar went down in Asia, neglecting China’s better than expected PMI figures.
China posted May’s official manufacturing PMI at 51.2, unlike a level of 51.0 observed. The non-manufacturing PMI showed 54.5, soaring from April’s value of 54.0. By the way, a figure above 50 stands for expansion.
The currency pair AUD/USD went down 0.23%, being worth 0.7449, reacting to the China PMI manufacturing figures. As for Australia's economy, it’s highly dependent on exports to China. Meanwhile, Australia posted that private sector credit for April managed to grow 0.4%.
Evaluating the greenback’s value against six key currencies, the US dollar index grew 0.16%, demonstrating 97.38.
The currency pair USD/JPY hit 110.97, tacking on 0.13%. Additionally, Japan informed that April’s provisional industrial output inched up 4%, compared with a profit of 4.3% observed month-on-month.
Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.
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Good morning, dear traders! Hope you’re doing great! Let’s talk about the news that is worth following today! Key market events: 15:30 MT, CAD GDP m/m 17:00 MT, GBP BOE Gov Bailey Speaks Oil is tensed again Oil rose as China refined its approach…