The Australian Dollar remains steady below 0.7200 USD as traders monitor US-Iran negotiations and await China’s May PMI data.
The AUD/USD pair traded at 0.7185 in early Asian hours, showing little movement as market participants assessed ongoing US-Iran diplomatic discussions. The lack of volatility reflects cautious sentiment ahead of key economic releases.
China’s May Manufacturing PMI, set for release later today, is expected to influence risk appetite and commodity-linked currencies like the Australian Dollar. The prior month’s PMI reading stood at 51.1, signaling expansion, but recent data has shown mixed signals.
Traders remain on the sidelines, with no immediate market reaction reported as geopolitical and economic uncertainties persist.