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01.10.201513:29 Forex Analysis & Reviews: Global macro overview for 01/10/2015

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Global macro overview for 01/10/2015:

The recent data from Australia shows that the PMI Manufacturing index expanded for a third consecutive month for the first time since July 2010. It increased to the level of 52.1 in September from 51.6 a month ago. The readings above 50 means the expansion in manufacturing industry and this is viewed as a positive news mainly due to a consolidation of activity in mining industry. Moreover, gains in this sector come despite the decrease of activity in two man lower level sectors: metals and machinery parts, which brighten the outlook even more.

The technical picture of AUD/USD looks somewhat steady as this pair is clearly bouncing from technical support at the level of 0.6906, but it is still trading inside of the golden channel.

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