AUD/USD continues to test the committed bulls out marking new lows

FXStreet (Guatemala) - AUD/USD is trading at 0.8431, down -0.94% on the day, having posted a daily high at 0.8484 and low at 0.8424.

AUD/USD has suffered the first round of data to come in respect of its manufacturing business sector for November. While it continues to read above 50 and expand, the number was slightly disappointing respect to the expectations of 50.6 vs 50.3 actual.

We now await the HSBC’s Manufacturing PMI results as the aussie continues to sank lower at time of writing, down on the day on the back of other events already that took place.

Gold has been the main catalyst for the lower price and a stringer greenbacks is leading us into the start of the week. Gold (Spot: $1,250.20 and $1,142.60 the low) took the commodity currencies lower on the back of a no vote in the Swiss referendum where the SNB where voted against increasing their gold reserves.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD drops below 1.1850 amid growing covid concerns

EUR/USD has dropped under 1.1850 as European coronavirus cases hit records. France exceeded 50K daily cases and Spain announced a state of emergency. US fiscal stimulus talks remain stuck ahead of the elections. 


GBP/USD pressured towards 1.3000 amid downbeat market mood

GBP/USD has been extending its losing streak amid a surge in COVID-19 cases in the UK and elsewhere. Investors are shrugging off reports of progress in Brexit talks. 


XAU/USD pushed and pulled in jittery market conditions

The price of gold has been testing the bearish commitments above the $1,900 psychological level following a brief spell below it, printing a low of $1,891.50.

Gold News

Bitcoin vs gold: Safe haven battle

A new idea has been floating around in Safe Haven Trading. Well, it’s not entirely new, but it’s quite controversial to say the least. For the longest time, gold has been considered to be the purest form of safe haven trading. 

Read more

WTI heavily on the back foot, but right tail remains fat

The coronavirus pandemic gets a new lease of life on the commodities market's risk barometer and at the time of writing, WTI is trading at $38.52 and has travelled from a high of $39.72 to a low of $38.31.

Oil News