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AUD/USD Trading - US ISM Non-Manufacturing PMI - 5 Oct 2016

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AUD/USD Trading - US ISM Non-Manufacturing PMI - 5 Oct 2016
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The Aussie is traded in the range of 0.7600 -0.7680 range. However, we don’t exclude the downward movement in near future.

The Aussie gets support thanks to the internal data. The number of building approvals fell by 1.8% vs. the forecast of -7.0% in August.

Yesterday's decision of the RBA was not a surprise. The rate was maintained at 1.50%.

Today, the August retail sales data showed better than expected: 0.4% vs. 0.2%. The AIG index showed an increase from 45.0 to 48.9.

Tomorrow, Australia will publish the data on trade balance for August, which is expected to reduce the deficit, from -2.41 billion to -2.32 billion.

The Non-farm employment change from ADP is expected at 166K against the previous 177K.
The factory orders for August are expected to decline. The ISM Non-Manufacturing PMI is projected to rise from 51.4 to 53.0. The US trade balance may show a slight improvement: -39.30 billion vs. -39.5 billion in July.

How to trade binary

We would buy Put options from the current level: 0.7618

Expiry time: 20:00 GMT

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.

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