AUD/USD Fundamental Analysis (2015.12.14)

AUD/USD Fundamental Analysis (2015.12.14)

The AUD/USD dipped 12 points to trade at 0.7177 as the US dollar rallied in the morning session as traders prepare for this week’s Federal Reserve decision.  Market sentiment appeared cautious on Friday after traders witnessed the yuan fall to a more than four-and-a-half-year low against the US, raising fears of further fund outflows from the region.Having suffered its largest one-day percentage decline in over a month on on Friday, falling 1.28%, the Australian dollar has found its footing in early Asian trade on Monday, buoyed by stronger-than-expected Chinese economic data released over the weekend and a touch of short covering from investors.

With no major domestic data scheduled on Monday, Grace believes markets will be paying close attention to movements in the Chinese renminbi given the PBOC signaled on Friday its intention to change the way it will manage the value of the CNY moving forward.“The PBoC signaled its intention to change the way it will manage the value of the CNY by potentially loosening the peg to the USD and starting to track CNY against a trade-weighted basket of currencies,” wrote Grace.

FxEmpire provides in-depth analysis for each asset we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports, which covers the current week and are published by Sunday before the new week begins. Daily we share any new events, forecasts or analysis that affect the current day. To achieve a full accurate understanding it is important that you study all of our data and analysis as a whole.

Today’s economic releases:

Source:Fxempire