FXStreet (Delhi) – Economists at BNP Paribas, view that the prospects for AUDUSD and NZDUSD remain firmly bearish as China’s PMI data overnight highlights the ongoing headwinds (manufacturing PMI fell to 49.6) and due to higher US yields boosting the USD vs the commodity currencies. Key Quotes “The RBA policy decision and accompanying statement did not provide any surprises this morning, but Wednesday’s GDP data will be more informative to the AUD’s outlook – our economists expect the data to signal the economy is struggling to regain its trend growth rate.” “We remain short AUDUSD via a 0.70 put expiring in early February. Also yesterday, the IMF confirmed its intention to include the CNY in the SDR basket with effect from next October. The weighting assigned to the currency was 10.92%, which was on the high end of our economists’ estimates but below some projections. We see limited immediate flow implications but reaction in USDCNH trading will be closely monitored.” For more information, read our latest forex news.