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AUD/USD Daily Forecast - 05 January

Friday, Jan 02 2015

There were no major data releases from Australia on Friday. On Thursday from China Manufacturing and Non-Manufacturing PMI figures were released. China's official Purchasing Managers' Index (PMI) slipped to 50.1 in December from November's 50.3, in line with market forecasts, according to the official government's data, its lowest level of the year and clinging just above the 50-point level that separates growth from contraction on a monthly basis. Separate report on Non-Manufacturing PMI showed that index rebounded to 54.1 in December from 53.9 in November.

In the US session Manufacturing PMI data was released as well. The December PMI registered 55.5 percent, a decrease of 3.2 percentage points from November’s reading of 58.7 percent. Analysts were anticipating a smaller decrease to 57.6. The New Orders Index registered 57.3 percent, a decrease of 8.7 percentage points from the reading of 66 percent in November. The Production Index registered 58.8 percent, 5.6 percentage points below the November reading of 64.4 percent.

 

There will be no major data releases both from Australia and USA on Monday so we can expect a steadier beginning of the week. With that being the case we would pay attention to iron ore and oil prices as possible market movers.

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