FXstreet.com (Barcelona) - The Australian Dollar, following earlier weakness on Aus resources minister comments, has managed to regain the bid tone once again, bouncing well off session lows at 1.0492 only to trip some stops behind 1.0520. Intra-day high so far at 1.0429.
In over 60 minutes, China will publish its flash PMI, which will offer the first major look at Chinese factory activity for August. In order for the Aussie to extend gains, a Flash PMI above 50 may be what additional buyers may demand for the pair to build on more gains, as "stops are looming above 1.0530 up to 1.0560" notes IFR Markets analyst Brent Hansen.
In over 60 minutes, China will publish its flash PMI, which will offer the first major look at Chinese factory activity for August. In order for the Aussie to extend gains, a Flash PMI above 50 may be what additional buyers may demand for the pair to build on more gains, as "stops are looming above 1.0530 up to 1.0560" notes IFR Markets analyst Brent Hansen.
