Australian Dollar Appreciates Despite Strong US Dollar, PMI Expected
The Australian Dollar remains strong as the PMI indicates a mixed economic outlook. Judo Bank Australia manufacturing activity improved in November but remained in contraction, while services activity fell into negative territory. The US Dollar Index hit its new yearly high of 107.15 after US Initial Jobless Claims were released on Thursday. The Australian Dollar […]
Australia’s Judo Bank Manufacturing PMI improves to 49.4 in November, Services PMI drops to 49.6
Australia’s Judo Bank preliminary manufacturing Purchasing Managers’ Index (PMI) reading improved to 49.4 in November from 47.3 in October, according to the latest data released by Judo Bank and S&P Global on Friday. Australia’s Judo Bank Services PMI fell to 49.6 in November from the previous reading of 51.0, while the Composite PMI fell to […]
Australian Dollar Holds Gains on RBA’s Bullock’s Hardline Comments Ahead of US Elections
The Australian Dollar held firm as the RBA decided to keep interest rates unchanged in November. Australia’s Judo Bank Services and Composite PMIs improved to 51.0 and 50.2, respectively, in October. The US dollar faced challenges amid uncertainty surrounding the US presidential election. The Australian Dollar (AUD) holds its ground after posting gains in the […]
Australia’s Judo Bank Services PMI rises to 51.0 in October vs. 50.6 expected
Australia’s Judo Bank Services Purchasing Managers’ Index (PMI) final reading improved to 51.0 in October from 50.6 in the previous reading. This figure was above the market consensus of 50.6, according to the latest data released by Judo Bank and S&P Global on Tuesday. The composite PMI rose to 50.2 in October from 49.8 previously. […]
AUD/JPY declines slightly towards 101.00, downside risk appears contained due to RBA hawkish
The AUD/JPY cross could rally as traders anticipate the RBA could avoid implementing rate cuts in 2024. Polls in Japan indicate that the LDP-led coalition could lose its majority in this weekend’s general election. Australia’s Judo Bank services PMI rose to 50.6 in October, marking its ninth consecutive month of expansion. AUD/JPY breaks its three-day […]
Australian Dollar Stays Strong as US Dollar Declines Ahead of PMI Release
The Australian Dollar remains stronger following the release of Purchasing Managers’ Index data on Thursday. The Judo Bank of Australia Services PMI rose to 50.6 in October, marking its ninth consecutive month of expansion. The Fed’s Beige Book report indicated that economic activity was “little changed in nearly all Districts.” The Australian Dollar (AUD) rises […]