Ella 
The Australian dollar (AUD) recovered some lost ground on Wednesday, recouping the previous session’s losses. The AUD/USD pair stabilized following the release of preliminary Australian Judo Bank Purchasing Managers’ Index (PMI) data, which showed that private sector activity expanded for the seventh consecutive month in April, with continued growth in manufacturing and services output.
The Judo Bank manufacturing PMI fell slightly to 51.7 in April, a two-month low, from 52.1 in March. Although manufacturing output remained in expansionary territory, growth in new orders was limited. At the same time, the services PMI fell slightly to 51.4 from 51.6 last month, and the composite PMI also fell to 51.4 from 51.6.
The AUD/USD exchange rate came under pressure as the US dollar (USD) strengthened, supported by comments from US Treasury Secretary Scott Besant, who described the current tariff standoff as “unsustainable”, suggesting that moves towards de-escalation could be possible. Sentiment was further boosted by U.S. President Donald Trump, who assured investors he had no intention of removing Federal Reserve Chairman Jerome Powell, helping to ease concerns about the central bank’s independence and policy direction.
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