FxWirePro: AUD/USD unperturbed by weak China PMI, hits new 2016 highs
AUD/USD spiked above the 0.73 handle, reversing losses, extending the rally into the third day. Upbeat domestic trade data along rising Asian equities offered support to the major. Data released earlier showed that Austr…
AUD/USD spiked above the 0.73 handle, reversing losses, extending the rally into the third day.
Upbeat domestic trade data along rising Asian equities offered support to the major.
Data released earlier showed that Australian trade deficit shrank to 2.94b in Jan beating expectation for -3.22b. Exports rose 266m (1%) to 2.56b, while the imports fell 320m (1%) to 2.85b.
Weak Chinese Caixin services PMI report failed to weaken the bulls, AUD/USD spike past 0.73 handle to hit new highs of 2016 at 0.7321.
Australia retail sales and US NFP data due Friday are the next najor data which could impact the pair.
