The Australian dollar appreciated past $0.654 on Monday, marking its fifth consecutive session of gains and its highest level in over two weeks amid a mixed set of domestic economic indicators. Notably, Australia's Manufacturing PMI rose to a near three-year high of 53 in August 2025, marking its eighth consecutive month above the 50-point threshold. Labor market conditions also showed resilience, with ANZ-Indeed Job Ads edging up 0.1% month-over-month in August, rebounding from a decline in July.
In the housing sector, private house approvals increased by 1.1% month-over-month in July to 9,288 units, recovering from a fall the prior month. However, total dwelling approvals dropped sharply by 8.2% in July, worse than forecasts and reversing a surge in June. Externally, the Aussie dollar found some support from a weakening US dollar, as investors adopted a cautious stance ahead of key labor market data due this week, which could further influence the Fed's upcoming policy decision.
Source: Trading Economics
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