The Australian Dollar weakens as economic indicators from China weigh on investor sentiment and demand for the currency.
The Australian Dollar declined for a third straight session, trading at 0.7130 against the USD in Asian hours on Monday. The move follows weaker-than-expected economic data from China, Australia’s largest trading partner, pressuring the AUD.
Prior to the drop, AUD/USD had hovered near 0.7150, struggling to regain momentum after last week’s losses. China’s latest manufacturing and trade figures fell short of forecasts, raising concerns about regional growth and commodity demand.
Markets showed limited reaction beyond the currency pair, with broader risk sentiment remaining cautious amid global economic uncertainties.