AUD/USD holds onto the previous gradual recovery despite witnessing softer Australia activity data for August, picking up bids to 0.6430 amid early We
Australia’s S&P Global PMIs for August came in softer but headlines suggesting improvement in US-China ties help Aussie buyers.US PMI, Fed talks eyed ahead of Friday’s Jackson Hole speeches.
Australia’s preliminary readings of the S&P Global Manufacturing PMI eases to 49.4 from 49.6 expected and prior while the Services counterpart drops to 46.7 from 47.9 market forecasts and previous readings. With this, the first reading of the S&P Global Composite PMI weakens to 47.1 for the said month from 48.2 marked in July.
While the hopes of the US-China ties put a floor under the AUD/USD price, mixed concerns about the economic recovery in China and recently firmer US Dollar cap the Aussie pair’s upside momentum. of Richmond President Thomas Barkin also underpin the US Dollar’s rebound and weigh on the AUD/USD Price. On Tuesday, Fed’s Barkin emphasized achieving the 2.0% inflation target while challenging the US recession concerns by stating, per Reuters, “If the US were to have a recession, it would likely be a ‘less-severe’ one.
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 juggles around 0.6400 ahead of US/Aussie PMIThe AUD/USD pair trades back and forth in a narrow range around 0.6400 as investors prepare for the Jackson Hole Economic Symposium, which will start
Read more »
AUD/USD holds above the 0.6420 mark, investors await Australian, US PMI dataThe AUD/USD pair gains momentum for the second consecutive day. The pair edges higher to the 0.6420 mark in the Asian session on Tuesday. The Greenbac
Read more »
AUD/USD Price Analysis: Pair treads water above 0.6400, technical indicates selling biasAUD/USD struggles to hold ground from continuing the losing streak, hovering around 0.6400 during the Asian session on Monday. The AUD/USD pair is exp
Read more »
AUD/USD: Extra decline likely below 0.6365In the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, losses in AUD/USD could accelerate once 0.6365 is breached.
Read more »
AUD/USD remains depressed below 0.6400 mark, seems vulnerable to slide furtherThe AUD/USD pair meets with some supply on the first day of a new week and trades with a mild negative bias through the early part of the European ses
Read more »
AUD/USD may see modest upside, but remain rangebound over the near termThe AUD is the worst-performing G10 currency so far this month. Economists at HSBC analyze Aussie outlook. The relative rate outlook could weigh on th
Read more »