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Dec 30 - 10:55 PM

AUD/USD - Perks Up On Encouraging Signs From China PMI Data

By Krishna Kumar  —  Dec 30 - 08:53 PM

• AUD/USD up 0.15% in Asia, rallies as China PMI data exhibits positive signs

• China Dec manufacturing activity expands for third month but at slower pace

• Services PMI jumps to 52.2 from 50.0 in Nov as stimulus provides a boost

• Likely to lift risk mood in Asia after Wall Street's sharp drop on Monday

• Will also alleviate some fears on China's economy heading into 2025

• Likely Fed-RBA divergence in 2025 to cap AUD rally attempts

• Failure to recover renders 0.6199 Dec 19 low, 0.6170, 2022 low vulnerable

• Asia range 0.6212-0.6230; resistance 0.6250,0.6270
Where investors think the Fed is headed


(Krishna Kumar is a Reuters market analyst. The views expressed are his own.)

Source:
London Stock Exchange Group | Thomson Reuters

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