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Published: 2024-05-31T04:48:12.000Z

AUD/USD flows: Trump's Conviction Has not Bother Market So Far

byCephas Kin Long Yung

FX Analyst
1

Donald Trump Convicted on falsifying business record 

Chinese Manufacturing back to contraction

Obviously, the key headline of the day would be Donald Trump's conviction of falsifying business record and sentencing would be on July. So far its impact towards the market seems muted as Trump is one of the first U.S. president to be convicted of felony and it is unclear whether it will affect his run for presidency as first timers are usually fined and instructed for community service instead of imprisonment. On Friday, we also have Chinese may manufacturing PMI which show a contraction at 49.5 while service at 51.1, both missing estimates. 

Regional risk sentiment does not seem to be affected and is in the green but AUD/USD has reversed earlier gains to trade 1 pip lower at 0.6632 as USD solid.

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Topics
Foreign Exchange
Flows
AUD/USD-Commentary

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