AUD/USD stays depressed below 0.6900, ignores upbeat China data ahead of US ISM PMI By anilpanchal7 AUDUSD PMI RiskAppetite Recession Inflation
That said, the Aussie pair’s latest moves ignore China’s upbeat activity numbers for June. China’s Caixin Manufacturing PMI rose to 51.7 for June versus 50.1 expected and 48.1 prior. The private activity gauge tracked the official PMIs that offered positive surprises the previous day.
It’s worth noting that the recovery in the US 10-year Treasury yields appears to have helped the US dollar, in addition to the risk-off mood, to reverse the pullback from a two-week top. On Thursday, the downbeat US personal spending and softer prints of the Fed’s preferred inflation gauge raised concerns over the health of the world’s largest economy and drowned the. The greenback’s previous retreat could also be linked to the downbeat US Treasury yields as the benchmark 10-year bond coupons dropped below 3.0%, before recovering to 3.01% at the closing, to portray around 50 basis points of a fall from June’s peak. The benchmark US Treasury yields rise 1.1 bps by the press time.
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