The manufacturing PMI hits a 13 month higher of 50.5 VS estimate of 50.4.
We continue to see stronger numbers coming out from China itself. This suggest that china economy could just be bottoming out around here.
Australia's retail sales number on Monday morning however dissapointed the market. Talks in the market that RBA could possibly go for a 50 BPS cut. Seeing AUD bearish on the crosses but not too much against the USD. This is mainly due to the uncertainty with the US fiscal cliff issue.
I would also go short AUD on the crosses.
Good luck
No comments:
Post a Comment