AUD/USD was flat around 0.6415 following the release of Australian economic data.
The number of people filing for unemployment benefits in the United States fell to 201,000 last week in September; the Philadelphia Fed manufacturing index fell to -13.5 in September from the previous value of 12.
Australia’s manufacturing purchasing managers’ index fell to 48.2 from 49.6 in September; the services purchasing managers’ index in September was 50.5, compared with the previous value of 47.8.
Market participants are awaiting the release of the U.S. S&P Global/CIPS Purchasing Managers’ Index later on Friday.
In early Asian trading on Friday, AUD/USD remained on the defensive. AUD/USD faced some follow-on selling after the Federal Reserve (FED) decided on Wednesday to keep rates on hold but is expected to raise interest rates at least once this year. AUD/USD is currently trading around 0.6415, with an intraday decline of 0.02%.
U.S. economic data was mixed on Thursday, with weekly jobless claims falling to 201,000, the lowest level since January. At the same time, the Philadelphia Fed manufacturing index fell to -13.5 in September from the previous value of 12.0, weaker than the expected -0.7. The monthly rate of existing home sales in August fell to 4.04 million from the previous value of 4.07 million.
The Federal Reserve (Fed) kept interest rates unchanged at a range of 5.25-5.50% on Wednesday, in line with market expectations. Federal Reserve Chairman Jerome Powell reiterated the Fed’s commitment to achieving 2% inflation at a news conference while suggesting that the central bank is ready to raise interest rates if necessary. These hawkish comments boosted USD/CHF and weighed on AUD/USD.
On the other hand, the latest data from Australia on Friday showed that the S&P Global Services Purchasing Managers’ Index for September came in at a preliminary reading of 50.5, up from the previous reading of 47.8. The manufacturing purchasing managers index fell to 48.2 from the previous value of 49.6. The composite PMI also rose to 50.2 from 48.0.