On Thursday, the AUD/USD pair is falling; the statistics from China didn’t support the Aussie.
The Australian Dollar is falling against the USD on Thursday afternoon. The current quote for the instrument is 0.7567.
The statistics published in the morning showed that the Building Permits in Australia expanded by 0.9% m/m in October, which is better than in September (+0.6% m/m) and much higher than expected (-0.9% m/m). The components of the report indicate that the residential construction improved significantly, +5.4%, while the non-residential buildings lost 10.1%. However, internal statistics are always paid less attention to when they publish reports from China.
The NBS Manufacturing PMI in China increased up to 51.8 points in November after being 51.6 points the month before and against the expected reading of 51.5 points. The Non-Manufacturing PMI rose from 54.3 points in October to 54.8 points this month.
Chinese reports should have helped the Aussie to become more stable, and they did right after they had been published. However, the effect of these reports disappeared very quickly, which was rather unusual. Now investors are once again focused on the OPEC and the US Senate voting on the taxation reform.
RoboForex Analytical Department