Page 21 - Audusd News Today

The AUD/USD dropped to a nine-day low of 0.6701 and extended its losses to four straight days, courtesy of broad US Dollar (USD) strength across the board.

The Australian Services sector contracted once more, according to the latest Purchasing Managers’ Index (PMI) data from Judo Bank.

The Australian Dollar (AUD) faces challenges as it struggles to halt its losing streak on Thursday.

The AUD/USD extends its losses in early trading on Thursday during the North American session, down 0.33% and at the brisk of diving below the 0.6700 figure.

The AUD/USD fell on Tuesday, sliding 0.8% on the day to kick off the first official trading day of 2024 with broader markets tipping back into the US Dollar (USD), though Aussie (AUD) losses were limited by a better-than-expected print in China’s Caixin Manufacturing Purchasing Managers’ Index (PMI) in December.

The AUD/USD pair pierced the 0.6800 threshold on Tuesday, heading into the new day trading in the 0.6770 price zone.

The Australian Dollar (AUD) grapples to maintain its position above a major level at 0.6750 on Wednesday amid a tepid US Dollar (USD).

Citing the Reserve Bank of Australia’s (RBA) internal documents showing how rising interest rates have impacted households and businesses, Bloomberg said “the private sector wage growth appeared to have stabilized at “around” 4.0%.” Additional takeaways “Domestic tourism demand slipped from high levels.” “Consumers have continued to trade down to cheaper products, or purchased fewer items, due to cost-of-living pressures.

The AUDUSD pair falls from the key resistance zone around the 0.69 handle. What’s next?

China's Caixin Manufacturing Purchasing Managers' Index (PMI) increased slightly to 50.8 in December, compared with November’s expansion of 50.7, according to the latest data released on Tuesday.