Fears that Chinese growth, which carried the global economy following the 2008 international financial crisis, is slowing in the long term are affecting the outlook for many industries, with the commodities sector among the hardest-hit. Falls in oil and other commodity prices hit many resource-exporting emerging economies hard, and they have already suffered shocks from capital outflows as the prospect of higher U.S. interest rates looms larger.
Aussie is currently being traded few points above 0.7350 level. Pair is likely to find support around 0.73 handle and resistance near 0.74 area. Later today, in the US session, Unemployment Claims, Philly Fed Manufacturing Index and Existing Home Sales figures are scheduled for a release.
