Australia’s manufacturing PMI rises to 51.7 in July
The preliminary reading of Australia’s S&P Global Manufacturing Purchasing Managers Index (PMI) rose to 51.7 in July, up from 51.5 in the previous month.
The services PMI jumped to 53.0 in July from 50.5, while the Composite PMI climbed to 52.6 from 50.4.
The AUD/USD pair holds near 0.6968, with the PMI data having little impact on the Australian Dollar.
The Reserve Bank of Australia’s interest rate decisions influence the AUD, aiming to maintain a stable inflation rate of 2-3%