The AUD/USD is likely to trade higher in Asia today supported by the stronger than expected Chinese manufacturing PMI which rose to 53.1 from 51.0 in February (highest level from March of last year). Analysts at Danske bank notice that "the underlying picture appears to be that the Chinese economy hit the bottom in November last year and growth has since been recovering moderately. The March NBS PMI should ease fears of renewed weakness and a possible hard landing in China." The same view is shared by FX strategists at Westpac who expect the AUD/USD to reach 1.0500 on Monday. The AUD/USD is trading at 1:0441 at ... (full story)