The preliminary Australian CBA PMI report showed the Manufacturing, Services and Composite PMI contracting below the 50.0 level that indicates contraction. This served as the latest reminder that more economic pain may follow. The AUDUSD remained stable at support, but how will today’s US economic data impact price action? Today’s fundamental analysis will take a look at price action in both directions.

Trade concerns are on the rise, US impeachment procedures are ongoing and economic data is mixed. Today’s PMI reports are expected to move the US Dollar. Final consumer confidence data will also be released, together with a regional report. The AUDUSD moved into a strong support area, how will price action react to today’s US economic data? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.