The Australian dollar weakened to around $0.654 on Tuesday, snapping a five-session winning streak, as investors paused amid a mix of domestic economic signals. Notably, Australia's current account deficit narrowed to over one-year low in Q2 2025, coming in better than market expectations.
Moreover, manufacturing activity jumped to a near three-year high in August 2025, marking the eighth consecutive month above the 50-point expansion threshold.
Meanwhile, business inventories saw their weakest expansion since the contraction in Q3 2024. In the housing sector, private house approvals posted a modest rebound in July.
However, this was overshadowed by a steep drop in total dwelling approvals, which fell well short of forecasts and erased June's strong gains. Looking ahead, investors are focused on PMI data due later today, followed by GDP figures and a speech by RBA Governor Michele Bullock tomorrow, which may provide further clarity on the central bank's monetary policy outlook.
Source: Trading Economics
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