The statistics supported the Aussie. Overview for 01.11.2018
AUDUSD is trading upwards; the Australian Dollar was supported by the statistics.
The Australian Dollar is rising against the USD on Thursday morning. The current quote for the instrument is 0.7126.
The statistics published in the morning showed that the Trade Balance in Australia was 3.02B AUD, which is almost twice as than expected. The data is already seasonally-adjusted and it makes them even more objective. The actual number is the highest since winter of 2017. The components of the report show that the Export added 1% and reached all-time high, while the Import lost 1% due to reduction of capital goods cost.
Another report, the AIG Manufacturing Index, turned out to be worse than expected. The indicator was 58.3 points in October against 59.0 points in the previous month. However, it is still above the psychologically-crucial level of 50 points, which separates decline from growth.
The numbers from China also supported the Aussie, but just a little bit. The Caixin Manufacturing PMI increased up to 50.1 points in October after being 50.0 points in September and against the expected reading of 49.9 points.
Taken together, these numbers helped the Australian currency get significantly stronger against the USD.
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