AUD/USD in highs around 0.9635/40

FXstreet.com (Barcelona) - The Aussie dollar is inching higher on Monday, bolstered by better numbers from the Chines manufacturing PMI over the weekend, improving to 50.8 in May from 50.6 previous.

Very interesting docket for the AUD in the week ahead, with the RBA interest rate decision due tomorrow, as the most relevant event. According to David de Garis, Strategist at NAB, “the market is 83% priced for no change, which we think is fair given their seemingly semi-relaxed stance to sit and wait now they stepped up with a cut in May”.

The pair is now advancing 0.12% at 0.9635 with the next hurdle at
0.9660 (hourly high/lows May 31) ahead of 0.9681 (MA10d). On the flip side, a breakdown of 0.9528 (low May 29) would expose 0.9488 (low Oct.5 2011).