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Indonesia News Portal for Traders | Financial & Business Updates

22 November 2024 09:39  |

Australian Dollar extends gains despite mixed PMI

The Australian Dollar (AUD) continues to strengthen against the US Dollar (USD) following the release of mixed Judo Bank Purchasing Managers' Index (PMI) data from Australia on Friday.

The AUD also benefits from a hawkish outlook by the Reserve Bank of Australia (RBA) regarding future interest rate decisions.

The Judo Bank Australia Manufacturing PMI rose to 49.4 in November from 47.3 in October, marking its 10th consecutive month of contraction, though the decline slowed to its weakest pace in six months.

Meanwhile, the Services PMI fell to 49.6 from 51.0, signaling the first contraction in services activity in ten months.

Source: FXStreet

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