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AUD/USD Eyes Chinese PMI Data as Prices Approach Recently Surrendered Channel

From dailyfx.com

Asia-Pacific equity markets are at risk after US stocks fell overnight, led lower by a big 4.91% drop in Apple stock, a heavily-weighted S&P 500 component. Several Federal Reserve members, including Mary Daly and James Bullard, beat the drum on the FOMC’s hawkish outlook, which kept Fed funds futures stiffly priced. Rate traders see a 68% chance that the Fed hikes by 75-basis points at the November 02 meeting. The US Dollar DXY Index dropped for a second day, however, likely letting steam out after an outsized move over the past several weeks. The Australian Dollar is in focus ahead of Chinese economic data on tap. ... (full story)

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  • Category: Technical Analysis