The AUD/USD pair attracted some buyers near 0.6540 during the early Asian session on Monday (11/25). The US Dollar Index (DXY) eased slightly after hitting a fresh two-year high despite strong S&P US Purchasing Managers' Index (PMI) data. On Monday, the US Chicago Fed National Activity Index for October and the Dallas Fed Manufacturing Business Index for November will be released.
Upbeat US November PMIs failed to boost the greenback. Data released by S&P Global showed on Friday that the S&P US Global Composite PMI rose to 55.3 in the flash estimate for November from 54.1 in October. Meanwhile, the Manufacturing PMI improved to 48.8 in November from 48.5 in October but remained in contraction. The Services PMI rose to 57.0 in November from 55.0 in the previous reading, beating the estimate of 55.3
However, rising expectations of a less aggressive rate cut from the Federal Reserve (Fed) may support the USD. Futures traders are now pricing in a 50.9% chance that the Fed will cut rates by a quarter point, down from around 69.5% a month ago, according to data from the CME FedWatch Tool.
On the Australian side, Australia's Judo Bank Composite PMI unexpectedly contracted in November, falling to 49.4 in November from 50.2 previously. A reading below the 50.0 threshold is considered a contraction in economic activity. The Manufacturing PMI improved to 49.4 in November from 47.3 in October, while the Services PMI fell to 49.6 in November from the previous reading of 51.0.
Source: FXStreet
The Australian dollar (AUD) held strong at the start of the week after strong Australian inflation data, while the US dollar weakened as market sentiment grew cautious due to the US-Greenland dispute....
The Australian Dollar is the best performer among major currencies in an otherwise calm start tobe the year. The Aussie appreciates nearly 0.5% against the US Dollar in the daily chart, so far, buoyed...
The Australian Dollar (AUD) continued to strengthen against the US Dollar (USD) on Wednesday, posting gains for the third consecutive day. The AUD's strength was driven by the release of the Reserve B...
The AUD/USD currency pair is currently in a bullish consolidation phase, a brief pause in its uptrend, and is hovering around the 0.6600 level during the Asian session on Friday (December 5th). This l...
The Australian Dollar (AUD) rose and reached a three-week high against the US Dollar (USD) during Wednesday's Asian session. This rise occurred despite less-than-satisfactory Australian economic data....
Gold prices briefly caused a stir after hitting a new record, but then slowed. The main trigger: US President Donald Trump withheld the threat of tariffs on Europe and claimed there was a "framework" for a future agreement on Greenland. This calmer...
Oil prices were little changed in Asian trading on Thursday after US President Donald Trump backed down from a threat to impose tariffs on European countries over Greenland. This decision helped ease geopolitical tensions and improve market...
The Nikkei 225 Index climbed 1.73% to close at 53,689, while the broader Topix Index rose 0.74% to 3,616 on Thursday, snapping a five-day losing streak as Japanese shares were lifted by a strong rally in chip and artificial intelligence related...