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AUD/USD extends losses for third straight day near 0.6970

AUD/USD held around 0.6970 in Asian trading as Australia’s August CPI rose to 4.0% YoY, but the trimmed mean measure came in below expectations.

Reported · Written up by our desk · Major Pairs

FXStreet reports AUD/USD extended its losses for a third consecutive day, trading around 0.6970 during Asian hours on Wednesday.

The Australian Dollar stayed subdued after Australia’s August CPI accelerated to 4.0% year over year, up from 3.5% in July, with the monthly inflation rate easing to 0.4%.

However, FXStreet says the underlying Trimmed Mean CPI was slightly weaker than forecast, holding at 3.6% year over year but cooling to 0.2% on a monthly basis versus an expected 0.3%.

FXStreet also pointed to improved data from China, where the Manufacturing PMI rose to 50.1 and the Non-Manufacturing PMI increased to 50.2 in September, suggesting expansion in both surveys.

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