The Australian service sector extended its slowdown and is moving closer to the 50.0 level. Third-quarter GDP data showed disappointing consumption data and capital expenditures contracted. Chinese data surprised once again to the upside, but Hong Kong showed a weaker figure than expected. The AUDUSD reversed into support, but how will price action be impacted by US data later in the trading session? Today’s fundamental analysis will take a look at price action in both directions.

Forex traders are eagerly awaiting the release of the US ISM Non-Manufacturing Index. The ISM Manufacturing Index disappointed on Monday and the AUDUSD has advanced as a result of US Dollar weakness. Today’s ADP report will give traders a first look at what to expect from Friday’s NFP report. How will this currency pair react following the release of economic data out of the US? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.