Bell Potter

Bell FX: The AUD is trading above .9100 after the official Chinese PMI figures for November came in slightly stronger than predicted. The Chinese government's official PMI index came in at 51.4 for last month as compared to predictions of 51.1. With growth stabilising in the world's second biggest economy, this bodes well for Australia although today we will see a large amount of data that will give us a good feel for what the Q3 GDP figures might be on Wednesday when they are released. Inflation in the European Union came in at 0.9% for November on an annualised basis which is slightly up from 0.7% in October and is the tenth straight month that inflation is below their 2% target. Unemployment dropped slightly to 12.1%. The GBP reached new highs against the USD & the JPY continued to weaken against the USD. Today's Forecast Range: USD: 0.9075 - 0.9150


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