Flash: how will the AUD fair of Chinese data? -BBH

FXstreet.com (London)-the AUD has suffered heavy losses since ' RBA Stevens says Australia needs $ closer to 85 cents of the United States ' and there was a little delay data for markets to digest for Australia. However, strategists at BBH noted that over the weekend, HSBC China Manufacturing PMI flash will be reported.

Key quotes:

"This will be the first reading in December, and the consensus has 50.9 vs final 50.8 in November.

"We expect the Chinese economy to maintain its course of modest growth in 2014. Consensus is indeed now GDP growth of 7.6% y/y in Q4, which follows the growth of 7.8% in Q3. Growth is seen at 7.6% in Q1 2014 before slowing down 7.5% further in Q2, 7.4% in Q3 and 7.35% in the 4th quarter ".

"Despite the modest growth profile, it appears that the authorities are willing to grant further modest yuan appreciation in the coming months".

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