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