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AUD/USD turns positive on the day, trades near 0 7780 ahead of US PMI data

After trading in a relatively tight range during the Asian session, the AUD/USD pair dropped to a daily low below 0.7740 but managed to regain its tra

AUD/USD turns positive on the day, trades near 0 7780 ahead of US PMI data

AUD/USD turns positive on the day, trades near 0 7780 ahead of US PMI data
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AUD/USD Pressures Daily Highs Amid Substantial Gains In Equities And Gold

Share: The Reserve Bank of Australia is widely anticipated to maintain its monetary policy unchanged. Australian manufacturing output rose at a solid pace in April according to the PMIs. AUD/USD pressures daily highs amid substantial gains in equities and gold. The AUD/USD pair gapped higher at the weekly opening, extending its recovery as the day went by to as high as 0.7765, holding nearby as the day comes to an end. The Aussie benefited from a stocks comeback and resurgent gold prices. The bright metal peaked at $ 1,797.91 a troy ounce, before retreating modestly. Data wise, Australia published the April AIG Performance of Manufacturing Index, which came in at 61.7, improving from 59.9. The Commonwealth Bank Manufacturing PMI for the same month resulted at 69.7, beating expectations. Finally, April TD Securities Inflation rose 0.4% MoM and 2.3%

AUD/USD holds above 0 7690 key support amid mixed clues

5/2/2021 9:33:03 PM GMT | By Anil Panchal AUD/USD defends short-term trading range after the heaviest monthly gain of 2021. US dollar gained on Friday amid covid fears, looming uncertainty over Biden’s stimulus. Mixed PMI from China, month-end moves also weighed on the quote. Second-tier Aussie data, risk catalysts will be the key, off in China, Japan can restrict market moves. AUD/USD picks up bids around 0.7720, struggles to recover from short-term range support, amid the early Monday morning in Asia. The Aussie pair marked the biggest monthly gain in 2021, despite the recent pullback, in April. The downward pressure remains present at the start of May even as buyers defend 0.7700.

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