The AUD\/USD pair reached a new YTD low at around 0.6776. US ISM Manufacturing PMI for June continued expanding but at a slower rhythm.
At 0.6821, the AUD\/USD stays depressed and ready to finish the week with substantial losses of 2%. The mixed market sentiment and a pullback in the US Dollar Index capped AUD\/USD losses
Sentiment has improved as Friday\u2019s session begins to wane. US equities pare earlier losses except for the heavy-tech Nasdaq, falling 0.19%, after slowing on a weaker than expected US ISM manufacturing data, which expanded though reached a two-year low, as new orders shrank. That sounded investors\u2019 alarms, who also flew towards haven assets and bought US Treasuries, as depicted by US Treasury yields plunging, with the 2-year at a time dropped 25 bps, as traders priced in a \u201cless\u201d aggressive than expected Fed.
Australia and China\u2019s PMI came better than expected, but a jump in US bond yields kept the pair from further recovery. The AUD\/USD nose-dive to fresh YTD lows near 0.6776, on harmful US manufacturing data, thought as the US session progressed has recovered some ground, and is closing to the 0.6800 figure.
Timothy R. Fiore, Chair of the Institute for Supply Management, commented on the report that the manufacturing sector is being \u201cpowered\u201d by demand while has been \u201cheld back by supply chain constraints.\u201d Furthermore, the employment index, despite contracting, shows progress, according to the survey. Prices eased for the third month in a row while new orders fell.
During the Asian session, AUD\/USD traders took cues from Australia S&P Global Manufacturing PMI, which came at 56.2, higher than foreseen, capping the AUD\/USD fall. Late in the session, China\u2019s Caixin Manufacturing PMI rose to 51.7 for June versus 50.1 expected and 48.1 prior.<\/p>\n","protected":false},"excerpt":{"rendered":"
The AUD\/USD pair reached a new YTD low at around 0.6776. US ISM Manufacturing PMI for June continued expanding but at a slower rhythm.At 0.6821, the AUD\/USD stays depressed and ready to finish the week with substantial losses of 2%. The mixed market sentiment and a pullback in the US Dollar Index capped AUD\/USD lossesSentiment …<\/p>\n","protected":false},"author":13,"featured_media":32839,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7063,8676,7462],"class_list":["post-68006","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-aud-usd","tag-ism-manufacturing-pmi","tag-market-sentiment"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=68006"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68006\/revisions"}],"predecessor-version":[{"id":68010,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68006\/revisions\/68010"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32839"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=68006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=68006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=68006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}