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AUD/USD Daily Forecast – 04 December

Friday, Dec 01 2017
AUD/USD Daily Forecast – 04 December

There were no data releases from Australia on Friday, but from China Manufacturing PMI figures were released. The Caixin China General Manufacturing Purchasing Managers’ Index (PMI) fell marginally from the previous month to 50.8 in November, but remained in expansion territory. The sub-index of output inched up, rising for the first time in four months, but the new orders sub-index declined. The increase in input prices moderated while the rise in output prices accelerated, with both maintaining rather quick rates of growth. Stocks of purchases turned around to increase as stocks of finished goods continued to diminish.

In the US session also ISM Manufacturing PMI data was published. The November PMI registered 58.2 percent, a decrease of 0.5 percentage point from the October reading of 58.7 percent. The New Orders Index registered 64 percent, an increase of 0.6 percentage point from the October reading of 63.4 percent. The Production Index registered 63.9 percent, a 2.9 percentage point increase compared to the October reading of 61 percent. The Employment Index registered 59.7 percent, a decrease of 0.1 percentage point from the October reading of 59.8 percent.

 

There will be no major data releases both from Australia and USA on Monday so we expect a less volatile session.

More in this category: « EUR/USD Daily Forecast – 01 December GBP/USD Daily Forecast – 04 December »

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