Flash: AUD/USD 0.9200 ceiling to hold - OCBC Bank

FXstreet.com (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank comments that despite the weekend China PMI release, investors should note that the November AiG manufacturing index deteriorated further to 47.7 from 53.2 the previous month.

Key Quotes

“Major domestic event risks this week are expected from the RBA meeting tomorrow and the 3Q GDP numbers on Wednesday.”

“Look for some consolidative behavior in the interim, with any upticks towards the 0.9200 ceiling likely to peter out and see the pair settle back towards the 0.9080 area if investors continue to remain wary of global growth prospects.”