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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.