AUD/USD Falls on Strong US Data, Focus on US GDP & PCE Price Index

AUD/USD fell slightly on the back of strong US economic data and central bank policy measures.

The U.S. S&P Global Purchasing Managers Index improved, especially the manufacturing index that emerged from contraction, but failed to boost the dollar.

There is no economic data to be released in Australia in the coming week, while the United States will release US fourth-quarter GDP, PCE price index, durable goods orders and US initial jobless claims last week.

As the Asian market opened on Thursday, the AUD/USD recorded a slight decline; on Wednesday, due to better U.S. economic data, the AUD/USD closed with little fluctuation, closing below 0.6600.

AUD/USD mostly flat, awaiting U.S. economic data

During the U.S. session, the S&P Global Purchasing Managers Index (PMI) expanded significantly, with all three sub-categories in the expansion range. U.S. data painted an optimistic economic outlook. The composite PMI reached 52.1, up 1.4 percentage points from December, and the services PMI rose to 52.9 from 51.4. However, it was the manufacturing Purchasing Managers’ Index (PMI) that took center stage, with the gauge hitting 50.3 for the first time in the past four months, escaping recessionary territory.

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