AUD/USD retraces to near 0.6450 on slowdown in China’s PMI

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AUD/USD retraces to near 0.6450 on slowdown in China’s PMI

  • The AUD/USD pair is undergoing a correction from the 0.6500 level as the Chinese private sector grapples with headwinds stemming from heightened tariffs imposed by the United States.
  • The latest Caixin Manufacturing and Services Purchasing Managers’ Index (PMI) figures indicate moderate expansion in April.
  • Market consensus anticipates the Federal Reserve to maintain current interest rate levels at its upcoming policy meeting on Wednesday.

The AUD/USD pair is experiencing a notable correction, trading near the 0.6450 mark during Tuesday’s European trading session. This represents a pullback from the five-month peak of 0.6500 achieved on Monday. The retracement in the Aussie pair is largely attributed to the broad-based underperformance of the Australian Dollar (AUD), which is in turn influenced by concerns surrounding a deceleration in Chinese business activity.

Australian Dollar PRICE Today

The table presented below illustrates the percentage change in the value of the Australian Dollar (AUD) relative to a selection of major global currencies today. Analysis reveals that the Australian Dollar exhibited the strongest performance against the Swiss Franc.

USDEURGBPJPYCADAUDNZDCHF
USD-0.01%-0.24%-0.36%-0.03%0.27%-0.11%0.42%
EUR0.01%-0.24%-0.36%-0.02%0.27%-0.10%0.43%
GBP0.24%0.24%-0.13%0.21%0.53%0.13%0.69%
JPY0.36%0.36%0.13%0.32%0.63%0.33%0.80%
CAD0.03%0.02%-0.21%-0.32%0.29%-0.09%0.47%
AUD-0.27%-0.27%-0.53%-0.63%-0.29%-0.38%0.19%
NZD0.11%0.10%-0.13%-0.33%0.09%0.38%0.56%
CHF-0.42%-0.43%-0.69%-0.80%-0.47%-0.19%-0.56%

The heat map visually represents the percentage changes between major currencies. The currency listed in the left column serves as the base currency, while the currency in the top row is the quote currency. For instance, selecting the Australian Dollar from the left column and tracing horizontally to the US Dollar will display the percentage change representing AUD (base)/USD (quote).

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