China Non-manufacturing PMI improves to 56.3 in October from 55.4

Nov 1, 2013

Session Recap: Dollar consolidates its comeback as EUR/USD closed below 1.3500

A cocktail of factors are helping the USD comeback: 1. The less dovish comments from the Fed with a remote possibility of starting QE cuts as soon as December; 2. The ECB downplaying the Euro as market it now pricing further stimulus from Draghi; And 3. Not bad economic data in China and the since April 2011 ISM manufacturing index.

AUD/USD minimally supported by upbeat China Non-Mfg PMI

AUD/USD is hovering around Friday closing levels at 0.9440 through inter-bank trading, with the Aussie having enjoyed some favourable liquidity flows on the back of better than expected China non-mfg PMI Sunday.