Forex – Aussie Gains In Early Asia Ahead Of Caixin China PMI


© Reuters. Aussie gains in Asia

Investing.com – The Aussie gained in early Asia on Thursday with investors awaiting a private manufacturing survey from China and digesting the latest views from the Federal Reserve.

traded at 0.8057, up 0.02%, while changed hands at 109.24, up 0.05%. rose 0.06% to 1.4199 with the market watching calls for Theresa May to be replaced as premier even as she is on a state trip to China

Australia reports for December seen down 8.0% on month.

The for January is due with a steady reading of 51.5 seen. On Wednesday, the official manufacturing PMI came in at 51.3, below the 51.5 seen and the 51.6 level in December.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted down 0.08% to 88.95.

The Federal Reserve left interest rates unchanged at the end of its two-day policy meeting on Wednesday, keeping them in a range between 1.25% – 1.50%.

The Federal Reserve signalled that it would push ahead on its monetary policy tightening path as economic activity has been rising at a solid rate, while inflation remained low but is expected to “move up” in the coming months.

“The Committee expects that, with further gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace and labor market conditions will remain strong,” The Federal Reserve noted in its monetary policy statement. “Inflation on a 12‑month basis is expected to move up this year and to stabilize around the Committee’s 2 percent objective over the medium term.”

The somewhat upbeat outlook on inflation comes as data on Monday showed that the Core PCE Price Index, the Fed’s preferred measure of inflation, rose 1.5% in December.

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