AUD Extends Losses Amid Solid Chinese PMI Data

The Australian Dollar (AUD) remains under pressure as it extends its losses for the third day in a row, trading at around 0.6970 during Asian hours on Wednesday.

Australia's Consumer Price Index (CPI) accelerated to 4.0% year-over-year (YoY) in August, rising from 3.5% in July, but the underlying Trimmed Mean CPI came in slightly weaker than anticipated at 3.6% YoY.

In China, manufacturing and non-manufacturing surveys signaled expanding business activity in September, with the Manufacturing PMI creeping back into expansion territory at 50.1 and the NBS Non-Manufacturing PMI rising to 50.2 from 49.0 in August.

The RatingDog Manufacturing PMI climbed to 52.1 in September, outperforming both the previous reading of 51.5 and the consensus estimate of 51.6, indicating steady improvement across the broader economy.