- AUD / USD remains in positive territory early in the American session.
- The US dollar index fell to the 93.20 area on Thursday.
After passing the Asian session in a narrow range below 0.7250, the pair AUD/USD It gained traction and was last seen rising 0.38% on the day to 0.7272.
All eyes on Evergrande headlines
The positive shift seen in market sentiment on Thursday appears to be causing the dollar to lose steam and helping AUD / USD preserve its bullish momentum. Following Wednesday’s rise on the back of the hard political outlook from the US Federal Reserve, the US Dollar Index is shedding 0.25% on the day at 93.20. Meanwhile, S&P futures are up 0.5%, suggesting that the major Wall Street indices are likely to open higher.
Hours earlier, data from Australia showed the Commonwealth Bank’s manufacturing PMI improved to 57.3 in September from 52 in August. Additionally, the services PMI rose to 46 in the same period from 43.3.
Meanwhile, the Wall Street Journal reported earlier in the day that Chinese authorities are asking local governments to prepare for the possible downfall of the Evergrande Group. In the event that China’s second-largest real estate company defaults, safe-haven flows could return to the markets and make it difficult for AUD / USD to continue pushing higher.
Technical levels
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