The Australian dollar shows limited movement as China’s manufacturing PMI dips, keeping the pair near a two-week high.
The AUD/USD pair remains subdued below the 0.7200 level, trading near a two-week peak following China’s May manufacturing PMI release. The data showed a slight decline to 51.8 from April’s 52.2, signaling a modest slowdown in activity.
China’s PMI had previously climbed from 51.1 in March, reflecting a gradual recovery in the sector. The latest print, while still above the 50-mark indicating expansion, fell short of expectations and weighed on sentiment.
Market reaction has been muted, with the pair exhibiting limited volatility as traders assess the implications for Australia’s export-driven economy.