The aussie rallied against the greenback today after the release of the HSBC Manufacturing PMI in China, which rose from the previous 50.9 to 51.2. On the flipside, however, unemployment in Australia's mineral sector was up by 11%. However, this did not hinder the aussie's rise today.
Thus, the AUD/USD pair broke past the 0.9400 level today and is currently trading at 0.9428. Initial resistance for the pair is seen at 1.4447, followed by 1.4483. Meanwhile, initial support is at 1.4351, followed by 1.4315.
As for the EUR/USD, the pair was dragged down today by the disappointing PMI figures from the region. France's Manufacturing PMI fell from 49.7, Germany's from 51.8 to 51.3, and the Eurozone from 51.4 to 51.1. This occurred just after the pair rose above 1.3550 after the German elections which saw Angela Merkel stay in power.
The EUR/USD pair is currently trading at 1.3515, with initial resistance seen at 1.3538, followed by 1.3572. Meanwhile, initial support is at 1.3485, followed by 1.3451.
The GBP/USD pair broke past the 1.6040 level again today after dropping to just above 1.6000 at the end of last week's session.
However, nothing much is expected from the pair, at least until significant data from both sides of the Atlantic are released starting tomorrow. Tomorrow, the United States will release its Consumer Confidence figures for September (2:00 PM, GMT), which is expected to drop from 81.5 to 79.8. On Wednesday, there is the US Durable Goods Orders for August (12:30 PM, GMT), which is expected to improve from -7.3% to 0.0%. Then finally, there's the United Kingdom's Gross Domestic Product data on Thursday (8:30 AM, GMT), which is expected to improve from 0.3% to 0.7% on a MoM basis, while it is seen to drop from 1.5% to 0.8% on a YoY basis.
The GBP/USD pair is currently trading at 1.6047, with initial resistance seen at 1.6037, followed by 1.6078. Meanwhile, initial support is at 1.5955, followed by 1.5915.
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