Month: May 2020

Australian dollar technical analysis Credit Suisse discusses AUD/USD technical outlook and highlights the importance of the 0.6706 level for near-term direction.  “AUDUSD saw another concerted effort to break above the pivotal resistance zone composed of the 200-day average, the March high and 78.6% retracement at 6706. Although further consolidation should still be allowed for, in
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Purchasing managers’ index (PMI) data for May from China’s National Bureau of Statistics (NBS). Manufacturing PMI 50.6 expected 51.1, prior 50.8 Non-manufacturing 53.6 expected 53.5, prior 53.2 Composite 53.4 prior 53.4 Expansion for the manufacturing sector continued in May, although by a smaller margin than in April. Just over 80% of manufacturing business has now
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