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AUD/USD holds gains near 0.7030 after China PMI, RBA CPI notes
AUD/USD stayed above the 0.7030 area after China’s RatingDog manufacturing PMI eased to 50.9, while the US dollar softened amid reports of possible Japan and US joint yen-buying and shifting Middle East risk sentiment.
The Australian dollar kept firm against the US dollar in Asian trading, with AUD/USD holding gains around 0.7030 after a bullish open, according to FXStreet.
FXStreet cited China’s RatingDog Manufacturing Purchasing Managers Index easing to 50.9 in July from 51.7 in June, still signaling expansion and supporting AUD resilience given China’s role as Australia’s major trading partner.
FXStreet also pointed to comments from Reserve Bank of Australia Assistant Governor Sarah Hunter, who described Australia’s latest CPI reading as “a touch softer” than expected, with the downside largely tied to lower fuel prices, against inflation still running above the RBA’s 2–3% target range.
On the US side, FXStreet said the dollar faced pressure as Japan confirmed joint currency intervention actions with the United States, and as market risk sentiment shifted amid reports involving US and Iran, while Iranian officials pushed back on claims of a requested pause, keeping uncertainty elevated.