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21 May 2015
AUD/USD: downside potential if global PMIs disappoint – OCBC
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, shares the outlook for AUD/USD into the PMI releases ahead.
Key Quotes
“In the near term, 0.7850 may remain fair game in the face of dollar resilience, especially with the flash HSBC manufacturing PMI for China improving but coming in a touch lower than expected at 49.1 (48.9 prev).”
“Expect downside potential to remain apparent if the run of global PMIs today continue to paint an uninspiring economic backdrop.”
Key Quotes
“In the near term, 0.7850 may remain fair game in the face of dollar resilience, especially with the flash HSBC manufacturing PMI for China improving but coming in a touch lower than expected at 49.1 (48.9 prev).”
“Expect downside potential to remain apparent if the run of global PMIs today continue to paint an uninspiring economic backdrop.”