The US Dollar strengthened ahead of key events and economic reports, pushing the AUD/USD pair below 0.
AUD/USD Current Price: 0.63344 The US Dollar strengthens ahead of the FOMC meeting and jobs data. Chinese data does not contribute to market sentiment. The AUD/USD pair moves sideways around the 20-day SMA. 6350. The pair continues to consolidate within a wide range, with the risk tilted to the downside. Data released on Tuesday showed that China's official PMI for the manufacturing sector dropped to 49.5 in October from 50.2 in September, falling below the market consensus of 50.2.
Despite the upbeat data, the market does not consider it sufficient for the Fed to take further action. As inflation slows and US Treasury yields remain high, the market is doing part of the Fed's work. No surprises are anticipated, and the Fed should maintain a tightening bias, suggesting that rates will remain higher for an extended period of time. The impact is uncertain and could either boost the Dollar, trigger a more significant correction, or favor the current consolidation.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/USD Price Forecast: Aussie Dollar Bruised by Chinese PMI’sAUD prices fell after Chinese manufacturing PMI’s slipped back into contractionary territory as markets look ahead to US CB consumer confidence.
Read more »
AUD/USD Forecast: The key to further gains lies at 0.6400The AUD/USD rose on Monday for their third consecutive trading day, extending its recovery from monthly lows.
Read more »
AUD/USD advances toward 0.6400 as US Dollar dips ahead of Fed policyThe AUD/USD pair extends gains above the crucial resistance of 0.6368 in the early New York session. The Aussie asset is approaching the rou
Read more »
AUD/USD catches some lift on Aussie data beats, US Dollar eases back ahead of FedThe AUD/USD is trading upwards for Monday, looking for an extended bid into the 0.
Read more »
AUD/USD consolidates its gains below 0.6400 ahead of Chinese PMI dataThe AUD/USD pair consolidates its recent gains during the early Asian session on Tuesday.
Read more »
AUD/USD: Cross above 0.6440 can spark a bounceAUD/USD has experienced a steady decline after facing resistance at the trend line drawn since 2022 – now near 0.
Read more »