Manufacturing in the New York Federal Reserve district increased to 26.46 in July, above expectations of a reading of 18. However, the dollar remained unmoved by the positive reading.
Euro-zone inflation increased by 0.1% in June and remained steady at +1.9% y/y, staying for the 4th consecutive month close but below the upper boundary of the ECB’s comfort zone of 2.0% y/y.
Canadian manufacturing shipments for June decreased by 0.1%, below expectations of +0.5%. However, data did nothing to stop the CAD from reaching a 30yr high of C$1.0417, as higher oil prices and favorable market flows pushed the CAD higher.
AUD/USD is trading at 0.8714. Buy AUD at 0.8670, target for 0.8880, and place stop below 0.8580.
DOMAINS YAHOO FOR CONFERENCE CALL SERVICE
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