Tag: Australian economy
Australian Dollar Strengthens after Positive PPI Data
The Australian Dollar showed strength against the US Dollar after positive Producer Price Index (PPI) data was released. The PPI in Australia rose by 4.8% Year-on-Year in the second quarter, surpassing the previous quarter’s...
Australia Building Approvals Decline by 6.5% in June (vs. Expected -1.5%)
Australia experienced a decline of 6.5% in building approvals for the month of June, which was higher than the expected decline of 1.5%. This news may have an impact on the foreign exchange market,...
Australian Dollar Strengthens as China’s Manufacturing PMI Beats Expectations
The Australian Dollar paused its decline after China's Manufacturing PMI surpassed expectations. Australia's own Manufacturing PMI fell for the fifth straight month to 47.2 in June, the fastest decline since May 2020. This negative...
Australian Dollar Weakens as PMI Data Disappoints
The Australian Dollar has been facing significant declines recently due to fading RBA gains and disappointing PMI data. The AUD/USD pair has been testing key support levels, with selling pressure originating from Asian markets...