16.12.2014 - Data from China puts pressure on quotations of the Australian dollar

The Australian dollar continues to decrease gradually and is traded near four-year low. The reason for the further reduction of quotations was the publication of the minutes of the previous meeting of the Reserve Bank of Australia which states the intention to keep interest rates at current levels for a long period. It is also worth noting the negative impact of data on manufacturing China's PMI from the bank HSBC, according to which the index fell to 49.5 in December, against 50.0 in November. Given the weakening of growth in China and low export prices in Australia, we maintain a medium-term negative outlook and recommend holding short positions in the Australian dollar.

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