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Aussie higher in an uneventful Thursday morning trade

Thursday, Jun 25 2015
The Australian dollar remained supported despite negative data lately from Australia as well as China as the Chinese numbers boosted hopes of additional stimulus. Main support comes from commodity prices. In the Asian part of the session the Australian dollar climbed off of recent lows to trade at 0.7742 gaining 42 points as the currency recovered from drastic declines over the past week as the strength of the US dollar weighed heavily along with disappointing Chinese HSBC manufacturing PMI which remained in contraction.
 
China’s statistics authority is seeking to improve its employment data as Premier Li Keqiang pushes for a better reading of the world’s largest labor market. Starting in July, some 15,000 surveyors will fan out across China each month with iPad-like devices to visit households and send responses directly back to the capital, the National Bureau of Statistics in Beijing said in an e-mailed response to questions from Bloomberg. The bureau will publish the complete data “as soon as possible,” without specifying when a regular monthly series may start.
 
Traders are currently more concerned with Greek debt crisis. digesting the outcome of meetings yesterday between Greek Prime Minister Tsipras and European Central Bank President Mario Draghi, IMF head Christine Lagarde and European Commission President Jean-Claude Juncker. The latest news is that the two sides remain far apart. 
 
Pair is currently being traded around 0.7740 level. Pair is likely to find support around 0.7680 level and resistance above 0.7770 area. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
More in this category: « US GDP deceased by 0.2% in the first quarter German Consumer Climate declined slightly »

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