Australian Dollar Weakens as US Dollar Holds Ahead of PMI Data
The Australian Dollar (AUD) weakened against the US Dollar (USD) following the release of the Judo Bank Purchasing Managers' Index (PMI) on Friday (21/2). However, the AUD/USD pair gained after US President Donald Trump announced potential progress in trade negotiations with China, easing market concerns over tariffs. Traders will be keeping an eye on the preliminary reading of the S&P US Global Purchasing Managers' Index (PMI) for February, due for release on Friday.
The Australian Dollar (AUD) weakened against the US Dollar (USD) following the release of the Judo Bank Purchasing Managers' Index (PMI) on Friday. However, the AUD/USD pair gained after US President Donald Trump announced potential progress in trade negotiations with China, easing market concerns over tariffs. Traders will be keeping an eye on the preliminary reading of the S&P US Global Purchasing Managers' Index (PMI) for February, due for release on Friday.
Source: FXStreet