China's June manufacturing PMI at 49.5% and non-manufacturing PMI at 50.5% contribute to a mixed outlook for the Australian Dollar in Q3.
China's June Manufacturing PMI remained steady at 49.5%, missing market consensus, while its NBS Non-Manufacturing PMI dropped to 50.5. This, coupled with global economic uncertainties and mixed Chinese PMI data, has led to a mixed outlook for the Australian Dollar (AUD) in the third quarter. The RBA is expected to maintain high interest rates until inflation decreases significantly, resulting in limited movement in AUD/USD. The US Dollar (USD) has depreciated due to heightened expectations of US Federal Reserve's rate cuts in 2024.
June 30, 2024
8 Articles