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AUD/USD Daily Forecast – 03 January

Tuesday, Jan 02 2018
AUD/USD Daily Forecast – 03 January

There were no data releases from Australia yesterday, but from China Manufacturing PMI figures were released. The Caixin China General Manufacturing Purchasing Managers’ Index rose to 51.5 in December, the highest since August. Stronger increases in both output and new orders were seen in December compared to the previous month. Growth in input prices eased to a four-month low, while growth in output prices slowed marginally. Stocks of finished goods shrank again in December, and stocks of purchases declined slightly.

In the US session, also, Manufacturing PMI data was published. December data indicated a marked improvement in US manufacturing operating conditions. The latest upturn was supported by faster increases in output and new orders, amid reports of greater client demand. The seasonally adjusted IHS Markit final US Manufacturing Purchasing Managers’ Index™ (PMI™) registered 55.1 in December, up from 53.9 in November. The latest index reading was the highest since March 2015 and signalled a solid improvement in the health of the sector. December data also rounded off the strongest quarterly performance since the start of 2015.

 

There will be no major data releases from Australia tomorrow. In the US session ISM Manufacturing PMI and FOMC Meeting Minutes will be published. No change is expected for Manufacturing PMI.

 

Figures to watch:

 

ISM Manufacturing PMI (Wednesday 16:00)

FOMC Meeting Minutes (Wednesday 20:00)

More in this category: « EUR/USD Daily Forecast – 02 January GBP/USD Daily Forecast – 03 January »

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