The Australian Dollar weakens against a stronger USD, pressured by disappointing China manufacturing data.
The AUD/USD pair remains below the 0.6900 mark, failing to extend its rebound from a three-month low near 0.6865. The Australian Dollar faces renewed selling pressure during the Asian session, driven by softer-than-expected China PMI data, which dampens demand for the commodity-linked currency.
Earlier, the pair had recovered modestly from its recent lows but struggled to gain traction amid a firmer US Dollar. China’s manufacturing sector, a key driver for Australia’s export economy, showed signs of weakness, reinforcing concerns over regional growth.
Markets are monitoring further developments in China’s economic indicators, with the AUD remaining sensitive to shifts in risk sentiment and USD strength.