AUD/USD: AIG Manufacturing Index

The AUD/USD currency pair ignored a downbeat AIG Manufacturing Index report, as it considered to be used as an information on the country rather than market shaker.

Australian manufacturing sector’s revealed modest growth pace in December, but continued to expend or remained in a stable condition that arose in October 2016. The AIG Manufacturing Index for November came in at 56.2, compared with 57.3 in the prior month. In the absence of two unlikely factors, which are higher interest rates or solid increase in the Australian Dollar, the expansion in the sector is anticipated to keep running through the most of the new year. Wage component fell, but remained above average, pointing to fewer chances of pay growth.