The AUD/USD pair exhibits a subdued performance near 0.6650 in Wednesday’s European session.
AUD/USD edges down as the US Dollar exhibits stability ahead of US economic data. Upbeat Caixin PMI data has improved the global demand outlook. The Australian economy grew at a slower pace of 0.1% in the January-March period. The Aussie asset has come under pressure as the US Dollar gathers strength ahead of the United States ISM Services PMI and the ADP Employment data for May, which will be publishedin the New York session.
This was the highest reading since July 2023. Also, Caixin Manufacturing PMI reached to two-year high at 51.7. Being a proxy to China’s economy, the Australian Dollar strengthens on strong PMI data. However, it fails to capitalize due to weak domestic Q1 Gross Domestic Product data. The Australian economy expanded at a slower pace of 0.1% from the estimates of 0.2% and the former release of 0.3%, upwardly revised from 0.2%.
Fed Unitedarabemirates PMI GDP
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/USD Forecast: Extra gains now look to data and the US DollarThe ongoing selling pressure on the US Dollar (USD) supported extra gains in AUD/USD, pushing it to four-day highs near 0.6680 on Tuesday.
Read more »
US Dollar Price Action Setups: EUR/USD, AUD/USD, USD/CHF Levels to WatchUS dollar setups come into focus as data weakens. EUR/USD awaits ECB cut, AUD/USD eyes lower levels on waning risk appetite, and USD/CHF flashes overheating signals after a sharp drop
Read more »
AUD/USD drops below 0.6650 as US Dollar steadies ahead of US ISM Manufacturing PMIThe AUD/USD pair falls to near 0.6635 in Monday’s European session.
Read more »
AUD/USD extends its upside above 0.6650 on softer US Dollar, Investors await Australian GDP dataThe AUD/USD pair extends the rally near 0.6655 during the early Asian session on Monday.
Read more »
AUD/USD gathers strength above 0.6630 on weaker US DollarThe AUD/USD pair edges higher to 0.6632 during the early Asian session on Monday.
Read more »
AUD/USD Price Analysis: Turns volatile as US Dollar bounces back after strong US PMI reportThe AUD/USD pair retreats from the intraday high of 0.6650 in Thursday’s New York session.
Read more »